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In January, Harold Black Bought 100 Shares of Country Homes

Question 91

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In January, Harold Black bought 100 shares of Country homes for $37.50 per share. He sold them ten years later for a total of $9,727.50. Calculate Harold's annual rate of return.
In January, Harold Black bought 100 shares of Country homes for $37.50 per share. He sold them ten years later for a total of $9,727.50. Calculate Harold's annual rate of return.

Correct Answer:

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FV = PV * FVIF (App. A)
$9,727.50 = 100(...

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