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Samir purchased shares of a chartered bank for $85 a share. The shares paid a dividend of $2.50 each year. The dividends were reinvested. After

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Samir purchased shares of a chartered bank for $85 a share. The shares paid a dividend of $2.50 each year. The dividends were reinvested. After 5 years Samir sold the shares for $92 each. What was his effective annual return? A 3.41% B 1.60% 17.05% (D) 4.45%

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