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aivan3 [116]
3 years ago
5

You bought a stock three years ago and paid $45 per share. You collected a $2 dividend per share each year you held the stock an

d then you sold the stock for $47 per share. What was your annual compound rate of return?

Business
1 answer:
kakasveta [241]3 years ago
5 0

Answer:

5.84%    

Explanation:

We use the RATE function that is shown in the excel. Kindly find the attachment below:

The NPER shows the time period.  

Given that,  

Present value = $45

Future value or Face value = $47

PMT = $2

NPER = 3

The formula is shown below:

= Rate(NPER,PMT,-PV,FV,type)    

So, the annual compound rate of return is 5.84%            

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The following is a partial unadjusted Trial Balance.
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Explanation:

<em>Bravo Unlimited</em>

<em>Adjustment Entry</em>

Date                          Particulars                     Debit           Credit

February 29          Supplies Expense         12500

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