A businessman purchases a common stock worth P1,000 every year for a period of 10 years. At the of the end 10th year just after his last purchase, he sold all his stock to a prospective buyer for P12,000. Find the rate of return he received on the investment.

A businessman purchases a common stock worth P1,000 every year for a period of 10 years. At the of the end 10th year just after his last purchase, he sold all his stock to a prospective buyer for P12,000. Find the rate of return he received on the investment.

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 46P

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