Multiple Choice
Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June, 1987 for $38 a share for a total investment of $3,800.She sold the shares in June, 1996 for $8,960.What is Cecilia's annual rate of return on her investment?
A) 10%
B) 10.6%
C) 11%
D) 11.2%
Correct Answer:
Verified
Correct Answer:
Verified
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