Question: Hello, this is a practice problem for a class I'm struggling with. The professor isn't much help, I'd really appreciate if someone here can answer
Hello, this is a practice problem for a class I'm struggling with. The professor isn't much help, I'd really appreciate if someone here can answer this and break it down so I can follow the logic and see where I'm going wrong with these problems.
Suppose that 7 years ago, you purchased 299 shares of stock in a corporation. Between then and now, the stock had a 2:1 split and a 4:1 split. Today, each share sells for $14. If selling all of your shares today would give your investment an annual rate of return of 6%, what was the price per share when you made the purchase 7 years ago? Round your answer to the nearest dollar
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
