A couple bought some stock for $30 per share that pays an annual dividend of $0.60 per share. After 1 year the price of the stock was $33. Find the simple interest rate on the growth of their investment.

A couple bought some stock for $30 per share that pays an annual dividend of $0.60 per share. After 1 year the price of the stock was $33. Find the simple interest rate on the growth of their investment.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter5: The Cost Of Money (interest Rates)

Section: Chapter Questions

Problem 2PROB

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A couple bought some stock for $30 per share that pays an annual dividend of $0.60 per share. After 1 year the price of the stock was
$33. Find the simple interest rate on the growth of their investment.
1.12
X %

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