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aleksandrvk [35]
3 years ago
15

XYZ can buy a Monet for $8,200,000 today. She believes that the masterpiece can be sold in 9 years for $19,600,000. What is the

annual rate of return that XYZ expects to earn on this art investment? a. 139.02% (plus or minus .02 percentage points) b. 15.45% (plus or minus .02 percentage points) c. 10.17% (plus or minus .02 percentage points) d. 26.56% (plus or minus .02 percentage points) e. None of the above is within .02 percentage points of the correct answer
Business
1 answer:
myrzilka [38]3 years ago
4 0

Answer:

c. 10.17%

Explanation:

we can use the future value formula:

future value = present value x (1 + r)ⁿ

  • future value = $19,600,000
  • present value = $8,200,000
  • n = 9

$19,600,000 = $8,200,000 x (1 + r)⁹

$19,600,000 / $8,200,000 = (1 + r)⁹

(1 + r)⁹ = 2.390243902

⁹√(1 + r)⁹ = ⁹√2.390243902⁹√

1 + r = 1.101663943

r = 1.101663943 - 1 = 0.101663943 = 10.17%

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In 2008, Cameron began his career with SBC. His starting salary was $32,000. By 2012, his salary increased to $35,000. If the CP
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Based on the CPI in 2008 and 2012, Cameron's 2012 real income is <u>$34,400</u>.

<h3>What is real income?</h3>

The real income is the inflation-adjusted income.  It is not the same as the nominal income.

For instance, Cameron's nominal income in 2012 is $35,000, but the inflation-adjusted (CPI) real income should be $34,400 based on his starting salary of $32,000 in 2008.

<h3>Data and Calculations:</h3>

Starting salary in 2008 = $32,000

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Consumer Price Index (CPI) in 2012 = 107.5

CPI adjusted salary in 2012 should be (real income) = $34,400 ($32,000 x 107.5/100.0)

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Learn more about CPI and real income at brainly.com/question/24802187

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