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Use the commission schedule from Company A shown in the table to find the annual rate of interest earned on the Principal ( Value of

Use the commission schedule from Company A shown in the table to find the annual rate of interest earned on the
Principal (Value of Stock)
Commission
investment. (Note: commissions are rounded to the
Under $3,000
$25+1.8% of principal
nearest cent.)
$3,000 to $10,000
$37+1.4% of principal
Over $10,000
$107+0.7% of principal
An investor purchases 313 shares at $9.95 a share, holds the stock for 36 weeks, and then sells the stock for $16.07 a share.
The annual rate is
%.(Round to five decimal places.)
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