Question
A coin that was featured in a famous novel sold at auction in 2014 for $3,450,500. The coin had a face value of $1 when
A coin that was featured in a famous novel sold at auction in 2014 for $3,450,500. The coin had a face value of $1 when it was issued in 1792 and had previously been sold for $385,000 in 1973.
At what annual rate did the coin appreciate from its first minting to the 1973 sale?
What annual rate did the 1973 buyer earn on his purchase?
At what annual rate did the coin appreciate from its first minting to the 2014 sale?
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
IFRS 3rd edition
1118978080, 978-1119153726, 1119153727, 978-1119153702, 978-1118978085
