34. 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? A. 100.0% B. 25.9% C. 5.0% 10 D. 50.0% 12

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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34. 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?
A. 100.0%
B. 25.9%
C. 5.0%
10
D. 50.0%
12
Transcribed Image Text:34. 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? A. 100.0% B. 25.9% C. 5.0% 10 D. 50.0% 12
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