Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume that in 2018, a copper penny struck at the Philadelphia mint in 1795 was sold for $420,000. What was the rate of return on

Assume that in 2018, a copper penny struck at the Philadelphia mint in 1795 was sold for $420,000.

What was the rate of return on this investment? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Rate of Return in %?

(please break down using a financial calculator if possible so I can follow along)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Truth About Buying Annuities Annuities Can Make Or Break Your Retirement

Authors: Steve Weisman

1st Edition

0132353083,0132701162

More Books

Students also viewed these Finance questions

Question

Describe two ways corporations make payouts to stockholders.

Answered: 1 week ago

Question

Explain the testing process of accounting 2?

Answered: 1 week ago