Question
1.Three years ago, you purchased 203 shares of IBM stock for $164 a share. Today, you sold your IBM stock for $172 a share. For
1.Three years ago, you purchased 203 shares of IBM stock for $164 a share. Today, you sold your IBM stock for $172 a share. For this problem, ignore commissions that would be charged to buy and sell your IBM shares and dividends you might have received as a shareholder. (a) What is the amount of profit you earned on each share of IBM stock?(b) What is the total amount of profit for your IBM investment?
2.
Mike Jackson invested a total of $16,100 in the New Colony Pacific Region mutual fund. The management fee for this particular fund is 0.40 percent of the total asset value. Calculate the management fee Mike must pay this year. (Round your answer to 2 decimal places.) 3. You have $15,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. How many dollars in withdrawals per month would reduce this nest egg to zero in 20 years? (Use Exhibit 18-16) withdrawal rate 4.
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