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tia_tia [17]
3 years ago
13

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2015, an auction

house sold a painting for a price of $1,080,000. Unfortunately for the previous owner, he had purchased it three years earlier at a price of $1,660,000.
What was his annual rate of return on this painting? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Business
1 answer:
VLD [36.1K]3 years ago
5 0

Answer: -13.35%

Explanation:

Based on the information given in the question, the annual rate of return on this painting will be calculated thus:

Sales price of painting = $1,080,000

Cost price of painting = $1,660,000

The sales Price formula is given as

= Cost price × (1 +r)³

1080000 = 1660000 × (1+r)³

1,080,000/1,660,000 = (1+r)³

0.65 = (1 + r)³

Annual rate of return r will now be:

= 0.6506^⅓ - 1

= -13.35%

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The difference between the basic EOQ model and the production order quantity model is that
Svetradugi [14.3K]

Answer:

C. the production order quantity model does not require the assumption of instantaneous delivery.

Explanation:

EOQ refers to Economic Order Quantity method, this method particularly aims at 0 extra inventory in hand and keeping the total inventory in hand which is needed and then there is n assumption that the goods shall be delivered instantly.

Under the production order quantity model the model is made to calculate the quantity to be ordered for meeting the demand of production units.

This aims at the minimum order quantity to be delivered to meet the production needs.

7 0
3 years ago
The marketing department, finance department, human resources department, and information systems department all operate at the
Nastasia [14]

The marketing department, finance department, human resources

department all operate at the functional level of an organization.

<h3>What is Functional level?</h3>

This level determines the daily operations of the various departments in

an organization. Examples include:

  • Strategy
  • Marketing
  • Finance
  • Human Resources

They are involved in execution of strategies which is why functional level

is the most appropriate choice.

Read more about Functional level here brainly.com/question/26287826

4 0
2 years ago
Look at the table supply of lemonade. if the price of lemonade is $1 per cup, the total quantity of lemonade supplied will be:
yan [13]
We'd need the table to be sure.
3 0
3 years ago
What is the target of SEO service?
Fiesta28 [93]
Increase its visibility in search results on search engines
5 0
3 years ago
Turnbull Corp. is in the process of constructing a new plant at a cost of $30 million. It expects the project to generate cash f
zepelin [54]

Answer:

44%

Explanation:

Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested

Internal rate of return can be determined using a financial calculator

Cash flow in year 0 = $-30 million

Cash flow in year 1 = $13 million

Cash flow in year 2 = $23 million

Cash flow in year 3 = $29 million

IRR = 44%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.  

6 0
3 years ago
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