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Interest rate in 1972, Bob purchased a new Datsun 240Z for $3,500, Datsun later changed its name to Nissan, and the 1972 Datsun 240Z became

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Interest rate in 1972, Bob purchased a new Datsun 240Z for $3,500, Datsun later changed its name to Nissan, and the 1972 Datsun 240Z became a classic Bob kept his car in excellent condition and in 2002 could sell the car for five times what he onginaly paid What was Bob's annual red rate of return for the 30 years he owned this car? If he keeps the car for another thirty years and ears the same rate what could he sell the car for in 2032? What was Bob's annualized rate of return for the 30 years he owned this car? % (Round to two decimal places)

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