Business, 10.03.2020 07:31 litwork1726
A coin sold at auction in 2017 for $1,965,500. The coin had a face value of $5 when it was issued in 1794 and had previously been sold for $305,000 in 1971. a. At what annual rate did the coin appreciate from its first minting to the 1971 sale
Answers: 2
![305,000 = 5*(1+r)^{177}\\r=\sqrt[177]{61,000}-1\\r=0.0642=6.42\%](/tpl/images/0540/3660/68c85.png)
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A coin sold at auction in 2017 for $1,965,500. The coin had a face value of $5 when it was issued in...
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