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XYZ can buy a Monet for $8,200,000 today. She believes that the masterpiece can be sold in 9 years for $19,600,000. What is the annual
XYZ can buy a Monet for $8,200,000 today. She believes that the masterpiece can be sold in 9 years for $19,600,000. What is the annual rate of return that XYZ expects to earn on this art investment?
a. | 139.02% (plus or minus .02 percentage points) | |
b. | 15.45% (plus or minus .02 percentage points) | |
c. | 10.17% (plus or minus .02 percentage points) | |
d. | 26.56% (plus or minus .02 percentage points) | |
e. | None of the above is within .02 percentage points of the correct answer |
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