# In January 2007, the average price of an asset was \$28,858

01 / 10 / 2021 Projects

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## In January 2007, the average price of an asset was \$28,858

Q1`: In January 2007, the average price of an asset was \$28,858. 7 years earlier, the average price was \$21,008. What was the annual increase in selling price?A 4.18% B 5.57% C 4.64% D -4.43% E 5.10%Q2`: You’re trying to save to buy a new \$160,000 Ferrari. You have \$47,000 today that can be invested at your bank. The bank pays 6.0 percent annual interest on its accounts. How long will it be before you have enough to buy the car?A 19.02 years B 21.27 years C 21.52 years D 21.02 years E 20.77 years Q3`: Your coin collection contains 46 1956 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2046, assuming they appreciate at a 12 percent annual rate?A \$1,261,769.55 B \$101,812.49 C \$1,175,177.53 D \$1,237,028.97 E \$1,199,918.11

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