An investor purchases 50 shares of a stock at $47.52 per share. After 200 days, the investor

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An investor purchases 50 shares of a stock at $47.52 per share. After 200 days, the investor sells the stock for $52.19 per share. Using Table 1, find the annual rate of interest earned by this investment. Express the answer as a percentage, correct to three decimal places.

Table 1 Commission Principal $0-$2,499 $2,500 $9,999 $10,000+ Schedule Commission $29+ 1.6% of principal

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Finite Mathematics For Business Economics Life Sciences And Social Sciences

ISBN: 9780134862620

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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