Disadvantages of starting a business as an entrepreneur ?
1 answer:
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Answer:
r = (- 4.431%)
Explanation:
Given that,
During 2003, auction house sold a sculpture(Final value) = $10,291,500
Purchasing Price of sculpture in 1999(Initial value) = $12,337,500
No. of years elapsed = 2003 - 1999
= 4 years
0.955680838 - 1 = r
- 0.04431 = r
- 4.431% = r
Therefore, annual rate of return on this sculpture is -4.431%