Problem 4-8 Calculating Rates of Return [LO 3]

Assume that in 2009, a Morgan silver dollar minted in 1901 sold for $9,850.

Required:

What was the rate of return on this investment? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

Rate of return

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