Please show all steps in Excel and please explain al steps. In 1803, the U .S. doubled in size with the Louisiana Purchase. That well-known real estate mogul Napoleon Bonaparte sold us 827,000 square miles (529, 280, 000 acres-there are 640 acres in a square mile). We paid $15 million. Assume that part of the US is worth an average of $7,500 per acre in 2024. What is the annual rate of return of this purchase for the U .S. ?
Please show all steps in Excel and please explain al steps. In 1803, the U .S. doubled in size with the Louisiana Purchase. That well-known real estate mogul Napoleon Bonaparte sold us 827,000 square miles (529, 280, 000 acres-there are 640 acres in a square mile). We paid $15 million. Assume that part of the US is worth an average of $7,500 per acre in 2024. What is the annual rate of return of this purchase for the U .S. ?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Please show all steps in Excel and please explain al steps. In 1803, the U
.S. doubled in size with the Louisiana Purchase. That well-known real
estate mogul Napoleon Bonaparte sold us 827,000 square miles
(529, 280, 000 acres-there are 640 acres in a square mile). We paid $15
million. Assume that part of the US is worth an average of $7,500 per
acre in 2024. What is the annual rate of return of this purchase for the U
.S. ?
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