Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sarah and James Hernandez purchased 160 shares of Macys stock at $33 a share. One year later, they sold the stock for $45.00 a share.

Sarah and James Hernandez purchased 160 shares of Macys stock at $33 a share. One year later, they sold the stock for $45.00 a share. They paid a broker a commission of $10 when they purchased the stock and a commission of $14 when they sold the stock. During the 12-month period the couple owned the stock, Macys paid dividends that totaled $1.57 a share. Calculate the Hernandezes total return for this investment.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Finance

Authors: Harvey S Rosen

7th Edition

0072876484, 978-0072876482

More Books

Students also viewed these Finance questions

Question

Explain the Pascals Law ?

Answered: 1 week ago

Question

What are the objectives of performance appraisal ?

Answered: 1 week ago

Question

State the uses of job description.

Answered: 1 week ago