Question
(Calculating rates of return) On December 24, 2013, the common stock of Apple Inc. (APPL) was trading for $700.73. One year later the shares sold
(Calculating rates of return) On December 24, 2013, the common stock of Apple Inc. (APPL) was trading for $700.73. One year later the shares sold for only $298.02. APPL has never paid a common stock dividend. What rate of return would you have earned on your investment had you purchased the shares on December 24, 2007? No price is given for the shares on 12/24/2007 but when searched on the internet the average price that day was $28.40 . I feel like there is an error in the question, but this is how it is written so I'm trying to answer it as is.
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