On January $1,2016,$ Charley Dow bought $1,000$ shares of stock at $$28$ per share. On December $31,2018,$ he sold the stock for $$34$ per share.On January $1,2016,$ Charley Dow bought $1,000$ shares of stock at $$28$ per share. On December $31,2018,$ he sold the stock for $$34$ per

share.

What was his annual rate of return? $($Use a Financial calculator to arrive at the answer. Round the final answer to $2$ decimal places.$)$

What was his annual rate of return? $($Use a Financial calculator to arrive at the answer. Round the final answer to $2$ decimal places.$)$

Annual rate of return

$\%$