Question: 1 . The U . S . government fixed the price of gold at $ 3 5 an oz in 1 9 3 4 .

1. The U.S. government fixed the price of gold at $35 an oz in 1934. As of now (in 2024), the price of the yellow metal is $2,525 an oz. Calculate the price appreciation of gold as percent per year, compounded annually.
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