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Problem 1 (See page 262) Samuel Smith invested in gold U.S. coins ten years ago, paying $316.53 for one-ounce gold double eagle coins. He could

Problem 1 (See page 262)

Samuel Smith invested in gold U.S. coins ten years ago, paying $316.53 for one-ounce gold "double eagle" coins. He could sell these coins for $935.03 today. What was his annual rate of return for this investment? (PLEASE SHOW YOUR WORK).

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