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You Bought an Asset for $10,000 and Sold It for $20,000

question 35

Essay

You bought an asset for $10,000 and sold it for $20,000 after 10 years. What was the annual rate of return on this investment?​


Definitions:

Seller's Remedies

The legal actions and compensations available to a seller when a buyer breaches a contract, including damages and the right to withhold goods.

Sales Contract

A contract for the sale of goods, as opposed to a contract for the sale of services, real property, or intangible property. Sales contracts are governed by Article 2 of the Uniform Commercial Code.

Nonconforming Goods

Products delivered to a buyer that do not meet the specifications or qualities explicitly or implicitly agreed upon in a contract.

Click-On Agreement

A digital form of contract acceptance which involves clicking a button or checking a box that indicates agreement to the terms presented.

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