You bought a racehorse that has had a winning streak for six years, br
You bought a racehorse that has had a winning streak for six years, bringing in $250,000 at the end
of each year before dying of a heart attack.
If you paid $1,155,720 for the horse 4 years ago, what
was your annual return over this 4-year period?
A) 8% B) 33% C) 12% D) 18%
ANSWER
A
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