Problem 5-15 Calculating Rates of Return [LO3] A coin sold at auction in 2017 for...
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Problem 5-15 Calculating Rates of Return [LO3] A coin sold at auction in 2017 for $3,987,500. The coin had a face value of $15 when it was issued in 1785 and had previously been sold for $290,000 in 1969. At what annual rate did the coin appreciate from its first minting to the 1969 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What annual rate did the 1969 buyer earn on his purchase? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) At what annual rate did the coin appreciate from its first minting to the 2017 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. b. C. Rate of return from 1785 to 1969 % a. Rate of return from 1969 to 2017 b. % Rate of return from 1785 to 2017 C
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