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An investor bought 1 1 0 shares of stock at a cost of $ 9 per share. He held the stock for 1 5 years

An investor bought 110 shares of stock at a cost of $9 per share. He held the stock for 15 years and then sold it for a total of $3 comma 960. For the first three years, he received no dividends. For each of the next seven years, he received total dividends of $40 per year. For the remaining period, he received total dividends of $80 per year. What rate of return did he make on the investment?

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