Thirty-seven years ago today Ms. Streator, an art collector, paid $13,300 for a stone sculpture...
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Thirty-seven years ago today Ms. Streator, an art collector, paid $13,300 for a stone sculpture by prominent Illinois artist Rock Carver. She had it appraised this morning by an expert who estimated the pieces value now to be $72,000. What has been the average annual compounded rate of return (growth in value) on this investment? A. 4.803%
- B. 11.928%
- C. 4.094%
- D. 14.631%
- E. 4.670%
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