Answered: The Japanese stock market bubble peaked… | bartleby

FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

The Japanese stock market bubble peaked at 54,000 in 1989. Two and a half years later it had fallen to 24,600.
What was the percentage decline? (Negative answer should be Indicated with a minus sign. Round your answer to 2 decimal
places.)
x Answer is complete but not entirely correct.
(50.44) * %
Market decline

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