You purchased a piece of property for $30,000 nine years ago and sold it today for $83,190.What was your rate of return on your investment?
A)12%
B)11%
C)10%
D)9%

Name: You purchased a piece of property for $30,000 nine years ago and sold it today for $83,190.What was your rate of return on your investment? A)12% B)11% C)10% D)9%
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Question

Quizplus · Accepted Answer

30,000 = 83,190(PVIFᵢ,₉)
.3606 = PVIFᵢ, ₉
From Table II, i = 12%
66.

You Purchased a Piece of Property for $30,000 Nine Years