question archive If you purchased a land by$20,000 and you will sell it after 10 years by $35,000
If you purchased a land by$20,000 and you will sell it after 10 years by $35,000
Subject:FinancePrice:3.91 Bought5
If you purchased a land by$20,000 and you will sell it after 10 years by $35,000. Find the annual rate of return from selling your land? Select one: O a. 5.76% O b.7.65% O c. 8.5% O d. 6%
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
Return = (Future Value / Present Value )^(1/year) - 1
= (35000 / 20000 )^(1/10) - 1
= 5.76% Answer
The option A is correct.
