Provide an Appropriate Response

Short Answer

Provide an appropriate response.
-An investor purchased 500 shares of a stock at $19 per share. The commission she paid to buy the stock was $65
plus 0.3% of the principal amount. Six months later she sold the stock for $20.50 per share. If she paid the same
rate of commission to sell the stock, what annual rate of interest (annual yield) did she earn on her initial
investment (including purchase price plus commission)? Express your answer as a percentage, correct to one
decimal place.