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A coin sold at auction in 2017 for $4,120,500. The coin had a face value of $20 when it was issued in 1786 and had
A coin sold at auction in 2017 for $4,120,500. The coin had a face value of $20 when it was issued in 1786 and had previously been sold for $395,000 in 1968. |
a. | At what annual rate did the coin appreciate from its first minting to the 1968 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 1968 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.) |
c. | 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.) |
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