(Solution) Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2010, an auction house sold a... > Snapessays.com
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(Solution) Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2010, an auction house sold a...


Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2010, an auction house sold a painting, at auction for a price of $1,130,000. Unfortunately for the previous owner, he had purchased it three years earlier at a price of $1,710,000. What was his annual rate of return on this painting?

 

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This question was answered on: Sep 21, 2023

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