Mary Stahley invested $4500 in a 48-month certificate of deposit (CD) that earned 9.5% annual simple interest. When the CD matur
ed, she invested the full amount in a mutual fund that had an annual growth equivalent to 21% compounded annually. How much was the mutual fund worth after 10 years? (Round your answer to the nearest cent.)
1 answer:
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Answer:
price for selling 3000 share right is $25060.87
Explanation:
Given data:
Total Amount raised= $4,400,000
Spreading rate = 6%
Subscription price = $20 per share
Number of share owned by company = 500,000
Per share cost = $45
Totals share own in the company = 3000
subscription price after deducting spreading rate
Now, Right share
Right price is calculated as
Right price = ((Number of share held * market price) + (Right share *Right price))/( Number of share held + Right share)
plugging all value in above relation
Right share = $36.65
single right value = 45- 36.65 = $8.35
Price for 3000 share right = 8.35 *3000 = $25060.86