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Homework: Hmwk sec. 3.2b comp. interest table and more Save Score: 0 of 1 pt 7 of 16 (0 complete) HW Score: 0%, 0 of
Homework: Hmwk sec. 3.2b comp. interest table and more Save Score: 0 of 1 pt 7 of 16 (0 complete) HW Score: 0%, 0 of 53 pts Instructor-created question * Question Help The buying and selling commission schedule shown in the table is from an online discount brokerage firm. Taking into consideration the buying and selling commissions in this schedule, find the annual compound rate of interest earned on the investment. Transaction Size $0-$1.500 $1,501 - $6,000 $6,001 - $22.000 $22,001 - $50,000 $50,001 - $500,000 $500,001 + Commission Rate $29+2.5% of principal $57 +0.6% of principal $75 +0.30% of principal $97 +0.20% of principal $147 +0.10% of principal $247 +0.08% of principal An investor purchases 95 shares of stock at $75 per share, holds the stock for 5 years, and then sells the stock for $135 a share. The annual rate of interest is %. (Round to two decimal places as needed.)
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