A coin that was featured in a famous novel sold at auction in 2014 for $5,904,000. The coin had a face value of $20 when it was issued in 1795 and had previously been sold for $135,000 in 1976.
1. At what annual rate did the coin appreciate from its first minting to the 1976 sale? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Rate of return %
2. What annual rate did the 1976 buyer earn on his purchase? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Rate of return %
3. At what annual rate did the coin appreciate from its first minting to the 2014 sale? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Rate of return %