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 CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter2: The Domestic And International Financial Marketplace
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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 %
Transcribed Image Text: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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