Suppose that 2 years ago you bought an old record player at a yard sale for $5.99. You saw today on E-bay that the same record player is selling for $53.63. If you were to sell the record play at that price today, what would be the implied return percentage? (Convert to a percent. Round to 2 decimal places.
Suppose that 2 years ago you bought an old record player at a yard sale for $5.99. You saw today on E-bay that the same record player is selling for $53.63. If you were to sell the record play at that price today, what would be the implied return percentage? (Convert to a percent. Round to 2 decimal places.
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
Problem 1PS
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Transcribed Image Text:Suppose that 2 years ago you bought an old record player at a yard sale for $5.99. You saw today on E-bay that the same record player is selling for
$53.63. If you were to sell the record play at that price today, what would be the implied return percentage? (Convert to a percent. Round to 2 decimal
places.
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