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 $10,689,500. Unfortunately for the previous owner, he had purchased it in 2009 at a price of $12,719,500. What was his annual rate of return on this sculpture?

His annual rate of return on this sculpture was -2.856%.

Explanation:

FV= PV x  -----(a)

FV – amount returned,

PV - amount invested,

r – annual rate of return,

t – number of years.

t = 2015 - 2009 = 6

Re-arranging the equation (a) we get,

r =

r =

r = 0.0285 or -2.856%

in terms of experimental research, mcdonald’s charging different prices in the two cities relates to

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi