Samuel Johnson Invested in Gold Maple Leaf Coins 10 Years

question 27

Essay

Samuel Johnson invested in gold Maple Leaf coins 10 years ago, paying $185 for each one-ounce gold coin. He could sell each coin for $734 today. What was his annual rate of return for this investment?

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Definitions:

Merchandising Business

A type of business that purchases finished products and sells them to consumers, making a profit from the markup.

Service Business

A company that provides intangible products, such as expertise or labor, rather than physical goods.

Selling Expenses

Costs incurred directly and indirectly from selling products or services, such as advertising, commissions, and shipping costs.

Merchandise

Goods bought and sold by businesses, typically in the retail industry.