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PtichkaEL [24]
3 years ago
11

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. In 2010, an auction hous

e sold a painting at auction for a price of $1,130,000. Unfortunately for the previous owner, he had purchased it three years earlier at a price of $1,710,000. What was his annual rate of return on this painting
Business
1 answer:
sasho [114]3 years ago
4 0

Answer:

rate of interest  = -12.90%

Explanation:

The computation of the annual rate of return is shown below:

As we know that

Future value = Present value * (1 + interest rate)^number of years

$1,130,000 = $1,710,000 × (1 + interest rate)^3

0.660819 = (1 + interest rate)^3

0.8710 = 1 + interest rate

So, the rate of interest is

rate of interest  = -0.128981

rate of interest  = -12.90%

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Acquisition price = $520,000

So Equity Dividend Rate = \frac{11440}{520000} X 100

     Equity Dividend Rate = 2.2%

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4 years ago
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6 0
3 years ago
9.To what part of an industry does a worker's education contribute?
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Answer:

human capital

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3 years ago
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AVprozaik [17]
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3 years ago
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Answer:

see explanation

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