You purchased a house for $850000 cash 4 years ago. You can sell it today for...
You purchased a house for $850000 cash 4 years ago. You can sell it today for $980000. What rate of return did you earn on this investment? Round your answer to the nearest tenth of a percent.
Options:
115.3%
none of the choices
15.3%
3.1%
Homework Answers
RATE OF RETURN ON INVESTMENT = [(SELLING PRICE/PURCHASE PRICE) - 1] X 100
RATE OF RETURN ON INVESTMENT = [(980000/850000) - 1] X 100 = (1.1529- 1) X 100 = 15.3%
NOTE :THEY HAVE NOT ASKED ANNUAL RATE OF RETURN.
ANSWER : 15.3% (Thumbs up please)
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