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Charlie buys 1 0 shares of Applegate stock for $ 2 2 per share. Applegate pays 8 % dividend each year, typically on a semi

Charlie buys 10 shares of Applegate stock for $22 per share. Applegate pays 8%dividend each year, typically on a semi-annual basis. Charlie holds the stock for 5 years, and the stock increases in to $26 per share in the second year, $28 dollars in the third year, $30 in the fourth year and $32 in the fifth year. What is Charlie ROI on Applegate stock? Assume Charlie takes none of the capital gains or dividends out of the investment for the five year period. Assume no time value of money.

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