Question: Problem Type: __________________________. Assume today is April 28, 1995. If you invest in shares of Sanford Fisheries, Ltd. at a price of $3.08 and then

  1. Problem Type: __________________________.

Assume today is April 28, 1995. If you invest in shares of Sanford Fisheries, Ltd. at a price of $3.08 and then sell the shares on April 27, 2002, i.e., seven years later at $5.65, ignoring dividends, what rate of (annualised) return has been earned?

  1. 8.30%

  2. + 1.43%

  3. + 9.05%

  4. +13.47%

  5. +26.21%

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