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Kathy Myers frequently purchases stocks and bonds, but she is uncertain how to determine the rate of return she is earning. For example, three years

Kathy Myers frequently purchases stocks and bonds, but she is uncertain how to determine the rate of return she is earning. For example, three years ago she paid $21,000 for 950 shares of Malti Companys common stock. She received a cash dividend of $770 on the stock at the end of each year for three years. At the end of three years, she sold the stock for $24,000. Kathy would like to earn a return of at least 9% on all of her investments. She is not sure whether the Malti Company stock provides a 9% return and would like some help with the necessary computations.

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