painting

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Q3. In 1990 an anonymous private collector purchased a painting by Picasso entitled Angel Fernandez
de Soto for $4,450,000. The painting was done in 1900 and valued then at $1800. If the painting was
owned by the same family until its sale in 1990, what is the interest rate they receive on the $1800
investment? 

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