Question
Question: Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June 1987 for $38 a share for a total investment of $3,800. She sold
Question:
Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June 1987 for $38 a share for a total investment of $3,800. She sold the shares in June 1996 for $8,960. What is Cecilia s annual rate of return on her investment?
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Answer The calculated value of the annual rate of return is 999 The number of years ...
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Introduction to Financial Accounting
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
11th edition
978-0133251111, 013325111X, 0133251039, 978-0133251036
