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Use the commission schedule from Company B shown in the table to find the annual rate of interest earned on the investment. (Note: commisions are

Use the commission schedule from Company B shown in the table to find the annual rate of interest earned on the investment. (Note: commisions are rounded to the nearest cent.)

Principal (Value of Stock)

Commission

Under $3,000

$32plus+1.8%

of principal

$3,000 - $10,000

$56plus+1.%

of principal

Over $10,000

$106plus+0.5%

of principal

An investor purchases 328 shares at $36.66 a share, holds the stock for 271 days, and then sells the stock for $52.27 a share. Assume a 360-day year.

What is the rate of annual %? Round to nearest three decimal place.

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