EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN: 9781337514835
Author: MOYER
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Transcribed Image Text:You bought a painting 7 years ago as an investment. You originally paid $127,000 for it. If you
sold it for $484,000, what is your annual return on the investment? Assume annual
compounding. (Round to 100th of a percent and enter your answer as a percentage, e.g.,
12.34 for 12.34%)
Answer:
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