Calculate annual compound growth rate of the house price

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According to public records, the estate is owned by Robert G. Goldstein, executive vice president and president of global gaming operations at Las Vegas Sands Corp, and his wife Sheryl, who purchased the house in 2007 for $17.4 million.” (The Wall Street Journal, August 1, 2014, M2). Calculate the annual compound growth rate of the house price during the period when the house was owned by Robert G. Goldstein (since 2007). (Round the number of years to the whole number). CAGR = ?(EV/BV)?^(1/n)-1 ?(28,000,000/17,400,000)?^(1/9)-1=0.054225 The annual growth rate is 5.42%

Reference no: EM131060720

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