Solution: Annual Rate of Return on the sculpture should be calculated by using the Rate formula in the excel where nper= 8 years; Present Value should be $12,383,000 and Future Value = $ 10,328,000, thus the negative rate will be -2.24.
Excel formula= RATE(8,,12383000,-10328000)
Assume a bronze sculpture sold in 2007 at auction for a price of $10,328,000. Unfortunately for...
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, an auction house sold a sculpture at auction for a price of $10,211,500. Unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. What was his annual rate of return on this sculpture? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent...
Although appealing to more refined tastes, art as a collectible has not always performed so profitably During 2003, an auction house sold a sculpture at auction for a price of $10,281,500. Unfortunately for the previous owner, he had purchased it in 1998 at a price of $12,317,500. What was his annual rate of return on this sculpture? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2...
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015, an auction house sold a statute at auction for a price of $10,437,500. Unfortunately for the previous owner, he had purchased it in 2009 at a price of $12,491,500. What was his annual rate of return on this sculpture? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a...
Although appealing to more refined tastes, art as a collectible has not always performed so profitably During 2003, an auction house sold a sculpture at auction for a price of $10,321,500. Unfortunately for the previous owner, he had purchased it in 1998 at a price of $12,397,500 What was his annual rate of retun on this sculpture? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2...
FINANCE Ch 5 Time Value of Money KQuestion 2 (of 5) 5.00 points Although appealing to more refined tastes, art as a collectible has not always performed so profitably During 2003 an auction house sold a sculpture at auction for a price of $10,241,500 Unfortunately for the previous owner, he had purchased it in 2000 at a price of $12 237,500 should be indicated by a minus What was his annual rate of return on this sculpture? (Negative amount sign....
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2015, an auction house sold a painting for a price of $1,160,000. Unfortunately for the previous owner, he had purchased it three years earlier at a price of $1,740,000. What was his annual rate of return on this painting? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to...
Suppose a stock had an initial price of $85 per share, paid a dividend of $1.60 per share during the year, and had an ending share price of $72.00. Compute the percentage total return. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Percentage total return % What was the dividend yield? (Do not round intermediate calculations...
Suppose a stock had an initial price of $88 per share, paid a dividend of $1.90 per share during the year, and had an ending share price of $73.50. a. Compute the percentage total return. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What was the dividend yield? (Do not round intermediate calculations and enter your answer as...
Suppose a stock had an initial price of $87 per share, paid a dividend of $2.15 per share during the year, and had an ending share price of $78. a. Compute the percentage total return. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What was the dividend yield? (Do not round intermediate calculations and enter your answer as...
Suppose a stock had an initial price of $65 per share, paid a dividend of $1.45 per share during the year, and had an ending share price of $58. a, Compute the percentage total return. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What was the dividend yield and the capital gains yield? (A negative answer should be...