Question
Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June, 1987 for $42 a share for a total investment of $4,200. She sold the
Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June, 1987 for $42 a share for a total investment of $4,200. She sold the shares in June, 1996 for $9,960. What is Cecilia's annual rate of return on her investment?
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An Introduction to Investment Banks, Hedge Funds, and Private Equity
Authors: David P. Stowell
1st edition
978-0123745033, 0123745039, 978-9380931074
