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Problem 0 1 . 0 1 1 Interest Rate and Rate of Return Abby purchased 1 0 0 shares of her father's favorite stock for
Problem Interest Rate and Rate of Return
Abby purchased shares of her father's favorite stock for $ per share exactly year ago, commission free. She sold it today for a
total amount of $ She plans to invest the entire amount in a different corporation's stock today, but she must now pay a $
commission fee. If she plans to sell this new stock exactly year from now and realize the same return as she has just made, what must
be the total amount she receives next year? Include the commission fee as a part of the purchase price, but neglect any tax effects.
The total amount that she receives next year is $
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