Question
Two years ago, you purchased 221 shares of IBM stock for $110 a share. Today, you sold your IBM stock for $137 a share. For
Two years ago, you purchased 221 shares of IBM stock for $110 a share. Today, you sold your IBM stock for $137 a share. For this problem, ignore commissions that would be charged to buy and sell your IBM shares and dividends you might have received as a shareholder.
(a) What is the amount of profit you earned on each share of IBM stock?
(b) What is the total amount of profit for your IBM investment?
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Strategy For Personal Finance
Authors: Larry R. Lang
4th Edition
007036317X, 9780070363175
