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Use the commission schedule from Company B shown in the table to find the annual rate of Principal (Value of Stock) interest earned on the
Use the commission schedule from Company B shown in the table to find the annual rate of Principal (Value of Stock) interest earned on the investment. (Note: commisions are rounded to the nearest cent.) Under $3,000 $3,000 - $10,000 Over $10,000 An investor purchases 262 shares at $35.96 a share, holds the stock for 284 days, and then sells the stock for $50.99 a share. Assume a 360-day year. Commission $32 + 1.8% of principal $56 + 1.% of principal $106 + 0.5% of principal The annual rate of interest is %. (Round to three decimal places.)
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