Question
Mr. Dow bought 100 shares of stock at $14 per share. Three years later, he sold the stock for $20 per share. What is his
Mr. Dow bought 100 shares of stock at $14 per share. Three years later, he sold the stock for $20 per share.
What is his annual rate of return? Use Appendix B for an approximate answer, but calculate your final answer using the financial calculator method.
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
7th Edition
013213683X, 978-0132136839
