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Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sotheby's sold the Edgar Degas bronze sculpture
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sotheby's sold the Edgar Degas bronze sculpture Petite Danseuse de Quatorze Ans at auction for a price of $10,311,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,377.500. What was his annual rate of return on this sculpture? (A negative answer should be indicated by a minus sign. Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, ... 32.16.) Annual rate of return For each of the following compute the future value (Do not round intermediate calculations and round your answers to 2 dec places, e.g., 32.16.): Years Interest Rate Future Valers Present Value 2.328 01:4622 7513 192.050
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