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Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations and enter your answers as a percent rounded to
Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) 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 $10,261,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,277,500. 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, e.g., 32.16.) Solve for the unknown number of years in each of the following: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
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