Your Aunt Mary recently found a painting in her closet that she purchased 20 years ago for $500. She found out that the painting is now worth $50,000. What annual rate of return did Aunt Mary earn on this painting? 50.0% 100.0% 25.9% 5.0%
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A:
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Q: 34
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Q: how much will this collection be worth when that time comes?
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Q: Your coin collection contains 49 1950 silver dollars. If your grandparents purchased them for their…
A: Computation:
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Your Aunt Mary recently found a painting in her closet that she purchased 20 years ago for $500. She found out that the painting is now worth $50,000. What annual
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- 100.0%
- 25.9%
- 5.0%
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- Sara bought a car last year for $12,000. She knows the car depreciates in value 10% per year. Will the car be worth more than $5,000 in 10 years? Explain your thinking.In 1974, your father purchased a rare art item for $10,000. In 2010, you sold it for $5 million. What annual rate of return did you earn on your father’s purchase? A. 17.77% B. 16.81% C. 20.06% D. 21.43% E. 23.02% F. 18.84%Michael and Sandy purchased a home for $100,000 five years ago. If it appreciated 6% annually, what is it worth today? Group of answer choices $106,000 $130,000 $133,823 $135,603
- You just received a $3,000 gift from your grandmother. You have decided to save this money so that you can gift it to your grandchildren 50 years from now. How much additional money will you have to gift to your grandchildren if you can earn an average of 8.5 percent instead of just 8 percent on your savings?When your father was born 44 years ago, his grandparents deposited $400 in an account for him. Today, that account is worth $40,000. What was the annual rate of return on this account? Multiple Choice: 11.03 percent 10.30 percent 12.14 percent 8.24 percent 10.59 percentYou purchased a house for 850,000 cash 4 years ago. You can sell it today for 980,000. What rate of return did you earn on this investement? Round your answer to the nearest tenth of a percent.
- Question Omar just received a $50,000 gift from his grandmother. He has decided to save this money so that you can gift it to his grandchildren 50 years from now. How much additional money will he have to gift to his grandchildren if you can earn an average of 8.59 percent instead of just 8.33 percent on your savings?Isabel Lopez from Lewiston, Idaho, who is 19 years old, recently received an inheritance of $55,000 from her grandmother's estate. She plans to use the money for the down payment on a home in ten years when she finishes her education. Right now the funds are in a savings account paying 2.0 percent APY. How much would Isabel have in ten years if instead she purchased a ten-year CD paying 6.0 percent? Round your answer to the nearest dollar.You just received a $5000 gift from your grandmother which you have decided to save and then gift to your grandchildren 50 years from now. How much additional money will you gift if you earn 7.5 percent interest rather than 7 percent interest over the next 50 years?
- Two people plan to invest $50,000. Matt is going to invest it in one lump sum and leave it in the account for 25 years to use for retirement. Sarah is going to invest $2000 per year for 25 years and will also use the money in the account for retirement. Is it reasonable to expect that Matt will have more money in his account than Sarah does in 25 years if both accounts earn the same interest?Martha bought a home in 1988 at a cost of $100,000.00. She put 20% down and financed the remainder by way of a mortgage. She paid the mortgage off in 20 years. Over the years, she spent $45,000 improving and updating the house. Martha sold her home last year for $310,000.00 What was the value of Martha's equity in her home?a) When you retire 40 years from now, you want to have $1.2 million. You think you can earn an average of 12 percent on your investments. To meet your goal, you are trying to decide whether to deposit a lump sum today, or to wait and deposit a lump sum 2 years from today. How much more will you have to deposit as a lump sum if you wait for 2 years before making the deposit? b) Some time ago, Julie purchased eleven acres of land costing $36,900. Today, that land is valued at $214,800. How long has she owned this land if the price of the land has been increasing at 10.5 percent per year?