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Suppose that 5 years ago, you purchased 268 shares of stock in a corporation. Between then and now, the stock had a 3:1 split and
Suppose that 5 years ago, you purchased 268 shares of stock in a corporation. Between then and now, the stock had a 3:1 split and a 5:1 split. Today, each share sells for $11. If selling all of your shares today would give your investment an annual rate of return of 11%, what was the price per share when you made the purchase 5 years ago? Round your answer to the nearest dollar.
I got the answer of $97.91. Is this correct?
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