Pilar can buy a Monet for $7,200,000 today. She believes that
the masterpiece can be sold...
Pilar can buy a Monet for $7,200,000 today. She believes that
the masterpiece can be sold in 9 years for $19,600,000. What is the
annual rate of return that Pilar expects to earn on this art
investment?
a. 11.77% (plus or minus .02 percentage points)
b. 172.22% (plus or minus .02 percentage points)
c. 19.14% (plus or minus .02 percentage points)
d. 30.25% (plus or minus .02 percentage points)
e. None of the above is within .02 percentage points of the
correct answer
Solutions
Expert Solution
Rate of return is calculated using the RATE function as
follows:-
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Please include steps , thanks.
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Σ X2 = 2595
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Impossible to calculate given the available data
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Someone said all options are wrong, can you...
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- impossible to calculate with given data
- she can afford $53,325.05
-she can afford $46,800.03
-she can afford $33,522.07
(show all excel work)
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