question archive Lance Murdock purchased a wooden statue of a Conquistador for $7,100 to put in his home office 9 years ago
Lance Murdock purchased a wooden statue of a Conquistador for $7,100 to put in his home office 9 years ago
Subject:FinancePrice: Bought3
Lance Murdock purchased a wooden statue of a Conquistador for $7,100 to put in his home office 9 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-Bay and only received ?$5,500 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 i??
(A negative percent is a loss)
