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Score: 0 of 4 pts 10 of 12 (9 complete) HW Score: 63%, 31.5 of 50 pts P5-20 (similar to) :s Question Help (Related to
Score: 0 of 4 pts 10 of 12 (9 complete) HW Score: 63%, 31.5 of 50 pts P5-20 (similar to) :s Question Help (Related to Checkpoint 5.6) (Solving for i) Lance Murdock purchased a wooden statue of a Conquistador for $7,000 to put in his home office 8 years ago. Lance has recently married, and his home office is being converted into a sewing room. His new wife, who has far better taste than Lance, thinks the Conquistador is hideous and must go immediately. Lance decided to sell it on e-Bay and only received $4,900 for it, and so he took a loss on the investment. What was his rate of return, that is, the value of i? What was Lance Murdock's rate of return, that is, the value of i? Enter a negative percentage for a loss. % (Round to two decimal places.)
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