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a. A coin sold at auction in 2017 for $2,591,000. The coin had a face value of $5 when it was issued in 1785 and
a. A coin sold at auction in 2017 for $2,591,000. The coin had a face value of $5 when it was issued in 1785 and had previously been sold for $165,000 in 1973. At what annual rate did the coin appreciate from its first minting to the 1973 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What annual rate did the 1973 buyer earn on his purchase? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16.) At what annual rate did the coin appreciate from its first minting to the 2017 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. a. Rate of return from 1785 to 1973 b. Rate of return from 1973 to 2017 C. Rate of return from 1785 to 2017 % % %
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