The Japanese stock market bubble peaked at 47,300 in 1989. Two and a half years later it had fallen to 20,000. What was the percentage decline? (Negative answer should be indicated with a minus sign. Round your answer to 2 decimal places.)

The Japanese stock market bubble peaked at 47,300 in 1989. Two and a half years later it had fallen to 20,000. What was the percentage decline? (Negative answer should be indicated with a minus sign. Round your answer to 2 decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The Japanese stock market bubble peaked at 47,300 in 1989. Two and a half years later it had fallen to 20,000.

What was the percentage decline? (Negative answer should be indicated with a minus sign. Round your answer to 2 decimal places.)

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