Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

One year ago, Angela purchased a house with $533,321; she sold the house today at $562,124. She paid the agent $20,000 when selling the house.

One year ago, Angela purchased a house with $533,321; she sold the house today at $562,124. She paid the agent $20,000 when selling the house. The internal rate of return (IRR) of her investment equals ____________ % per year, compounded yearly. Keep two digits after the decimal point

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance A Practical Approach

Authors: Jane King, Mary Carey

1st Edition

0199668833, 9780199668830

More Books

Students also viewed these Finance questions

Question

Computer Science - What is hashing in data structures?

Answered: 1 week ago