FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jack earned a 16.3 per cent return on a share that he purchased one year ago. The share is now worth $11.20, and he just

image text in transcribed
Jack earned a 16.3 per cent return on a share that he purchased one year ago. The share is now worth $11.20, and he just received a dividend of $1.46. How much did Jack originally pay for the share? (in dollars to the nearest cent; don't use $ sign)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cybersecurity In Finance

Cybersecurity In Finance

Authors: Sylvain Bouyon, Simon Krause

1st Edition

1786612178, 9781786612175

More Books

Students also viewed these Finance questions

Question

★★★★★
The trial balance of S. Yunjin Company at the end of its fi scal year, August 31, 2012, includes these accounts: Inventory $17,200; Purchases $149,000; Sales Revenue $190,000; Freightin $5,000; Sales...

Answered: 1 week ago

Question

★★★★★
Create an example of copyright application for a software development that you do for a company. The software can be of anything of your interest. Fill in the application form with your data and...

Answered: 1 week ago

Question

★★★★★
What is the difference between constructive and destructive feedback? [LO-2]

Answered: 1 week ago

Question

★★★★★
On January 1, 2017, Bonduris Company leases warehouse space in Oakland, CA. The lease is for six years with payments to be made at the beginning of each year. The lease calls for Bonduris to pay...

Answered: 1 week ago

Question

★★★★★
Jack earned a 16.3 per cent return on a share that he purchased one year ago. The share is now worth $11.20, and he just received a dividend of $1.46. How much did Jack originally pay for the share?...

Answered: 1 week ago

Question

★★★★★
Monthly mortgage coupon rates should be calculated by simply dividing the annual rate by 12. You should also assume that all of the securities pay monthly. You should also divide annual interest...

Answered: 1 week ago

Question

★★★★★
Accept a word as input and determine if its letters are in alphabetical order. Some examples of words whose letters are in alphabetical order are biopsy, adept, chintz, and lost. See Fig.3.52. The...

Answered: 1 week ago

Question

★★★★★
Question 9 (1 point) Consider the following code: Money m = new Money (25,73); boolean ok = m.remove(26, 19); System.out.println( ok ); System.out.println( m.toString()); What is displayed to the...

Answered: 1 week ago

Question

★★★★★
Current Attempt in Progress Your answer is partially correct. Sheridan Corporation reported the following information for the year ended December 31: Balance sheet accounts: 2024 2023 Income...

Answered: 1 week ago

Question

★★★★★
A ball rolls up a 2.45 m long incline. It reaches the top in 1.73 seconds where it has a final speed of 1.22 m/s. What is the acceleration of the ball (m/s)? 0.227 -0.498 0.705 O 0.957 0.610 O 1.42...

Answered: 1 week ago

Question

★★★★★
Jamal and Ursula Hairston have earned income of $15,000 and $16,000 respectively, adjusted gross income of $29,000, daycare expenses of $1,000, and one dependent child, age 5. What is their child and...

Answered: 1 week ago

Previous Question Next Question