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Suppose one year ago you paid $P for a stock which you sold today for $102. The stock did not pay any dividends and there
Suppose one year ago you paid $P for a stock which you sold today for $102. The stock did not pay any dividends and there were no other cash flows other than you purchase a year ago and your sale today. Your realized rate of return was 0.15. Rounded to the nearest penny, what is the value of P? (Round to two decimal places and do not include the dollar sign. For example, if you solved for $50.126 you should answer, without a dollar sign, 50.13.)
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