Assume a bronze sculpture sold in the year 2,007 at auction for a price of $10,555,041. Unfortunately for the previous owner, he had purchased it in year 1,996 at a price of $14,587,086. What was his annual rate of return on this sculpture? Enter answer in percents, to two decimal places.

Answer rating: 100% (QA)

SOLUTION To calculate the annual rate of return we need to fir... View the full answer