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 %