George buys an antique car for $20,000 and sells it five years later for just over $24,000. George's per-year rate of return is:
A. 20 percent.
B. 12 percent.
C. 10 percent.
D. 4 percent.
D. 4 percent.
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Refer to the scenario above. The nominal GDP of the country in Year 1 was ________
A) $280,000 B) $2,200,000 C) $1,400,000 D) $540,000
The current demand for automobiles would decrease if
a. the price of gasoline fell. b. consumer income rose. c. consumers suddenly believed the price of automobiles would be sharply lower in the near future. d. consumers suddenly believed the price of automobiles would be sharply higher in the near future.
Although the necessary role of government in the economy is highly debated, many people agree that it should
A. Provide a legal framework. B. Protect consumers and labor. C. Protect the environment. D. All of the choices are correct.
A "brain drain" is
A. the impact of malnutrition on education and productivity in developing countries. B. the tendency of workers in developing countries to reject new technologies. C. the tendency of talented people in developing countries to get education in developed countries and to stay there after graduation. D. the impact of poverty on the productivity of workers in developing countries.