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The Brasher doubloon, which was featured in the plot of the Raymond Chandler novel, The High Window, was sold at auction in 2018 for a
The Brasher doubloon, which was featured in the plot of the Raymond Chandler novel, The High Window, was sold at auction in 2018 for a reported $5.5 million. The coin had a face value of $15 when it was first issued in 1787 and had been previously sold for $430,000 in 1979. At what annual rate did the coin appreciate from its minting to the 1979 sale? At what annual rate did the coin appreciate from 1979 until 2018? At what annual rate did the coin appreciate from its minting to the 2018 sale? | ||||
Input area: | ||||
Original minting year | 1787 | |||
First sale year | 1979 | |||
Second sale year | 2018 | |||
Original value | $15 | |||
First sale price | $430,000 | |||
Second sale price | $5,500,000 | |||
(Use cells A6 to B11 from the given information to complete this question.) | ||||
Use excel for calculations | ||||
Rate of return A. From Minting to first sale B. Between first and second sale C. From Minting to second sale |
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