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An investor bought 7 0 shares of stock at a cost of $ 1 1 per share. He held the stock for 1 4 years
An investor bought shares of stock at a cost of $ per share. He held the stock for years and then sold it for a total of $ For the first two years he received no dividends. For each of the next six years he received total dividends of $ per year. For the remaining period, he received total dividends of $ per year. What rate of return did he make on the investment?
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