Fundamentals of Corporate Finance
Fundamentals of Corporate Finance
11th Edition
ISBN: 9780077861704
Author: Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Bradford D Jordan Professor
Publisher: McGraw-Hill Education
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Chapter 5, Problem 15QP
Summary Introduction

To calculate: The rate of return

Introduction:

Rate of return refers to the gain or loss on the investment. It also refers to the increase or decrease in the capital value of an investment.

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Assume that in 2018, a copper penny struck at the Philadelphia mint in 1796 was sold for $495,000.  What was the rate of return on this investment? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)  what is the rate of return using the required two deimal places =
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