Question: Jack earned a 18.2 per cent return on a share that he purchased one year ago. The share is now worth $10.98, and he just

 Jack earned a 18.2 per cent return on a share that

Jack earned a 18.2 per cent return on a share that he purchased one year ago. The share is now worth $10.98, and he just received a dividend of $1.36. How much did Jack originally pay for the share? (in dollars to the nearest cent; don't use $ sign)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!