Question
In the 1950 year, the Praline pecan company purchased 400,000 acres. Then the company paid $30/acre in 1950 and received $60acre when it was sold
In the 1950 year, the Praline pecan company purchased 400,000 acres. Then the company paid $30/acre in 1950 and received $60acre when it was sold in 2000.
What was the annual rate of price appreciation on this purchase? Please explain.
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
7th Edition
0324171730, 978-0324171730
