Use the commission schedule from Company B shown in the table to find the annual rate of interest earned on the investment. (Note: commisions are rounded to the nearest cent.) Principal (Value of Stock) Commission Under $3,000 $32+1.8% of principal $3,000 - $10,000 $56+1.% of principal Over $10,000 $106+0.5% of principal An investor purchases 100 shares at $36.08 a share, holds the stock for 304 days, and then sells the stock for $49.31 a share. Assume a 360-day year. The annual rate of interest is My wrong answer >>>>25.689%. (Round to three decimal places.)
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
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Use the commission schedule from Company B shown in the table to find the annual rate of interest earned on the investment. (Note: commisions are rounded to the nearest cent.)
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An investor purchases
100
shares at
$36.08
a share, holds the stock for
304
days, and then sells the stock for
$49.31
a share. Assume a 360-day year. |
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