Vincent Van Gogh sold only one painting during his lifetime, for about $30. A sunflower still life he painted in 1888 sold for $39.85 million in 1988,, more than three times the highest price paid previously for any work of art. If this painting had been purchased for $30 in 1888 and sold in 1988 for $39.85 million, what would have been the annual rate of return?

Vincent Van Gogh sold only one painting during his lifetime, for about $30. A sunflower still life he painted in 1888 sold for $39.85 million in 1988,, more than three times the highest price paid previously for any work of art. If this painting had been purchased for $30 in 1888 and sold in 1988 for $39.85 million, what would have been the annual rate of return?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section: Chapter Questions

Problem 7P

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