1 assume a bronze sculpture sold in the year 2009 at, Ask an Expert

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1. Assume a bronze sculpture sold in the year 2009 at auction for a price of $10,549,173. Unfortunately for the previous owner, he had purchased it in year 1995 at a price of $12,063,538. What was his annual rate of return on this sculpture? (Enter answer in percents, not in decimals.)

2. Suppose you are committed to owning a $212,296 Ferrari. If you believe your mutual fund can achieve a 13.79 percent annual rate of return, and you want to buy the car in 8 years on the day you turn 30, how much must you invest today?

3. Twenty years ago, you deposited $6,832 into an account. Fifteen years ago, you added an additional $9,701 to your account. You earned 5.15 percent, compounded annually, for the first 5 years and 8.26 percent, compounded annually, for the last 15 years. What is the value of your account today?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800896

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