You Invest $3000 by buying 100 shares of Driss Inc at a price of $30 per share. One year from now, Driss pays you a dividend of 60 cents per share. One year later (i.e. two years from now), you get another dividend of 60 cents per share and then you immediately sell your shares for $32 each. What return (IRR) did you get on your investment? (Do not round intermediate calculations. Report your result as a percentage. Round the final answers to 2 decimal places. Be careful - Excel's default is to report whole precentage points. Omit the % sign in your response. For example, if your answer is 3.21%, just enter 3.21)
You Invest $3000 by buying 100 shares of Driss Inc at a price of $30 per share. One year from now, Driss pays you a dividend of 60 cents per share. One year later (i.e. two years from now), you get another dividend of 60 cents per share and then you immediately sell your shares for $32 each. What return (IRR) did you get on your investment? (Do not round intermediate calculations. Report your result as a percentage. Round the final answers to 2 decimal places. Be careful - Excel's default is to report whole precentage points. Omit the % sign in your response. For example, if your answer is 3.21%, just enter 3.21)
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
Problem 1PS
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Transcribed Image Text:You Invest $3000 by buying 100 shares of Driss Inc at a price of $30 per share. One year from now, Driss pays you a
dividend of 60 cents per share. One year later (i.e. two years from now), you get another dividend of 60 cents per share
and then you immediately sell your shares for $32 each. What return (IRR) did you get on your investment?
(Do not round intermediate calculations. Report your result as a percentage. Round the final answers to 2 decimal places.
Be careful - Excel's default is to report whole precentage points. Omit the % sign in your response. For example, if your
answer is 3.21%, just enter 3.21)
Numeric Response
4.28
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