Question: I am having trouble with this finance assignment, can someone please help me? (Related to Checkpoint 5.6) (Solving for i) Lance Murdock purchased a wooden

(Related to Checkpoint 5.6) (Solving for i) Lance Murdock purchased a wooden

I am having trouble with this finance assignment, can someone please help me?

statue ofa Conquistador for 57,100 to put in his home office 8

(Related to Checkpoint 5.6) (Solving for i) Lance Murdock purchased a wooden statue ofa Conquistador for 57,100 to put in his home office 8 years ago. Lance has recently married, and his home office is being converted into a sewing room. His new wife, who has far better taste than Lance, thinks the Conquistador is hideous and must go immediately. Lance decided to sell it on e-8ay and only received 54,500 for it, and so he took a loss on the investment What was his rate of return, that is, the value of i? What was Lance Murdock's rate of return, that is, the value of Enter a negative percentage for a loss. (Round to b,vo decimal places.)

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