Question: Compute the present value if future value (FV) = $6,127, interest rate (r) = 8.2%, and number of years (t) = 13. Although appealing to
Compute the present value if future value (FV) = $6,127, interest rate (r) = 8.2%, and number of years (t) = 13.
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sothebys sold the Edgar Degas bronze sculpture Petite Danseuse de Quatorze Ans at auction for a price of $9.63 million. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12.84 million. What was his annual rate of return on this sculpture?
Compute the number of years (t) if future value (FV) = $5,575, present value (FV) = $1,812, and interest rate (r) = 9.1%,. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):
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