A coin that was featured in a famous novel sold at auction, Ask an Expert

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A coin that was featured in a famous novel sold at auction in 2014 for $6,788,000. The coin had a face value of $5 when it was issued in 1790 and had previously been sold for $280,000 in 1967.

a. At what annual rate did the coin appreciate from its first minting to the 1967 sale? Rate of return %

b. What annual rate did the 1967 buyer earn on his purchase? Rate of return %

c. At what annual rate did the coin appreciate from its first minting to the 2014 sale? Rate of return %

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92052828

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