If you purchased a property for $42500 14 years ago, what is your expected annual rate of...
If you purchased a property for $42500 14 years ago, what is your expected annual rate of return if you can sell the property for $838000 today and you assume annually compounding? (Express your answer to two decimal places such as xx.xx. Do not include the % sign.)
Homework Answers
Rate of return is given as equal to=(Future Value/Present
Value)^(1/t)-1=(838000/42500)^(1/14)-1=23.73%
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