Calculating Rates of Return
A coin that was featured in a famous novel sold at auction in 2014 for $2,860,000. The coin had a face value of $5 when it was issued in 1787 and had previously been sold for $405,000 in 1972.
At what annual rate did the coin appreciate from its first minting to the 1972 sale? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Rate of return %
What annual rate did the 1972 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 %
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 %