Question
1). Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2016, a sculpture was sold at auction
1). Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2016, a sculpture was sold at auction for a price of $10,316,500. Unfortunately for the previous owner, he had purchased it in 2012 at a price of $12,383,500. What was his annual rate of return on this sculpture?
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4.67%
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-4.46%
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-3.79%
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-5.04%
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-4.02%
2). You are scheduled to receive $38,000 in two years. When you receive it, you will invest it for 10 more years at 7 percent per year. How much will you have in 12 years?
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$71,014.16
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$78,489.34
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$74,751.75
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$85,583.28
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$44,944.97
3). You expect to receive $16,000 at graduation in two years. You plan on investing it at 11 percent until you have $96,000. How long will you wait from now?
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17.17 years
-
21.47 years
-
19.17 years
-
15.17 years
-
21.09 years
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