A coin sold at auction in 2019 for $3,158,000. The coin had a face value of $2 when it was issued in 1786 and had been previously sold for $420,000 in 1971. a. At what annual rate did the coin appreciate from its first minting to the 1971 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What annual rate did the 1971 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 2019 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c.
A coin sold at auction in 2019 for $3,158,000. The coin had a face value of $2 when it was issued in 1786 and had been previously sold for $420,000 in 1971. a. At what annual rate did the coin appreciate from its first minting to the 1971 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What annual rate did the 1971 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 2019 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:A coin sold at auction in 2019 for $3,158,000. The coin had a face value of $2 when it was issued in 1786 and had been previously sold for $420,000 in 1971.
a.
At what annual rate did the coin appreciate from its first minting to the 1971 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places,
e.g., 32.16.)
b. What annual rate did the 1971 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 2019 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places,
e.g., 32.16.)
C.
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