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Although you may know William Shakespeare from his classic literature, what is not well-known is that he was an astute investor.

This question was answered on Jan 06, 2013. View the Answer
Although you may know William Shakespeare from his classic literature, what is not well-known is that he was an astute investor. In 1604, when he was 40 and writing King Lear, Shakespeare grew worried about his eventual retirement. Afraid that he would become like King Lear in his retirement and beg hospitality from his children, he purchased grain "tithes," or shares in farm output, for 440 pounds. The tithes paid him 60 pounds per year for 31 years. Even though he died at the age of 52, his children received the remaining payments.
What interest rate did the Bard of Avon receive on this investment?
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Dear Student, Please... View the full answer

8418125.xlsx

PV
PMT
TERM
RATE £440
£60
31 Yrs
13.36%

This question was asked on Jan 06, 2013 and answered on Jan 06, 2013.

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