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Julio Purchased 1,400 Shares of a Certain Stock for $22,750

Question 216

Multiple Choice

Julio purchased 1,400 shares of a certain stock for $22,750 (including commissions) . He sold the shares 6 year(s) later and received $32,100 after deducting commissions. Find the effective annual rate of return on his investment over the 6-year period.


A) 5.75%
B) 5.78%
C) 5.82%
D) 5.91%

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