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Average annual compounded rate of return

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Reference no: EM132006996

Fourteen years ago today an art collector paid $5,400 for a sculpture by prominent local artist Godfrey El Paso. She had it appraised this morning by an expert who estimated the piece's value now to be $18,400. What has been the average annual compounded rate of return on this investment?

  • 24.339%
  • 3.375%
  • 29.348%
  • 9.152%
  • 2.096%

Reference no: EM132006996

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