A woman made 7 annual end-of-year purchases of $3500 worth of common stock. The stock paid no dividends. Then after holding the stock for 8 years, she sold all the stock for $38,000. What interest rate did her investment earn?
A woman made 7 annual end-of-year purchases of $3500 worth of common stock. The stock paid no dividends. Then after holding the stock for 8 years, she sold all the stock for $38,000. What interest rate did her investment earn?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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A woman made 7 annual end-of-year purchases of $3500 worth of common stock. The stock paid no dividends. Then after holding the stock for 8 years, she sold all the stock for $38,000. What interest rate did her investment earn?
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