Assume a bronze sculpture sold in 2005 at auction for a price of $10,314,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,378,500. Required: What was his annual rate of return on this sculpture?

Your coin collection contains 100 1952 silver dollars. Required: If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2059, assuming they appreciate at a 4.8 percent annual rate?