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What would be the annualized percentage return

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Question - In March of 1969, Steve Jones purchased a Nolan Ryan rookie edition baseball card for $0.05. As is the tradition with baseball cards, Steve also received a small, thin piece of gum that quickly lost its flavor. Although the gum is currently affixed to the underneath side of a pew in the back of Steve's local church, Steve still has the baseball card and it is in near mint condition. At present, the baseball card is a collector's item that would fetch $700 if sold. If Steve were to sell this card now, what would be the annualized percentage return on his investment?

Reference no: EM133133557

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