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Question in Engineering Economy Please calculate the rate of return without using any program. An investor bought 100 shares of stock at a cost of

Question in Engineering Economy

Please calculate the rate of return without using any program.

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An investor bought 100 shares of stock at a cost of $10 per share. He held the stock for 15 years and then sold it for a total of $4,000. For the first three years, he received no dividends. For each of the next seven years, he received total dividends of $50 per year. For the remaining period, he received total dividends of $100 per year. What rate of return did he make on the investment

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