Question

In 2018, one of the first copper pennies struck at the Philadelphia mint in 1793 was sold for $300,000. What was the rate of return on this investment?

Answer 1

Answer:The rate of return on this investment was an astronomical 8,964,900%.

Explanation:

(going off the idea it was just a cent back then and not bought prior)

The rate of return on this investment was an astronomical 8,964,900%.

To calculate the rate of return, we subtract the original cost from the final sale price and divide that by the original cost. In this case, the original cost was 1 cent, and the final sale price was $300,000. So, we subtract 1 cent from $300,000 and get $299,999.99. We then divide $299,999.99 by 1 cent to get 8,964,900%.

This is an exceptional return on investment and would be highly unlikely to be achieved with any other investment.