Calculate and show your working. You are an art investor. You just purchased a painting from a

 

 

Calculate and show your working.

 

Transcribed Image Text:

You are an art investor. You just purchased a painting from a famous artist. You paid $3,620,945 for that painting. The collector from which you bought the painting claims to have held the painting for 14 years. She claims she earned a return of 12.41% per year. What did she pay for the painting 14 years ago? Please enter your response to the nearest penny. You are an art investor. You just purchased a painting from a famous artist. You paid $3,620,945 for that painting. The collector from which you bought the painting claims to have held the painting for 14 years. She claims she earned a return of 12.41% per year. What did she pay for the painting 14 years ago? Please enter your response to the nearest penny.

Answer rating: 100% (QA)

To find out what the collector paid for the painting 1... View the full answer