Question: Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June 1987 for $38 a share

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Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June 1987 for $38 a share for a total investment of $3,800. She sold the shares in June 1996 for $8,960. What is Cecilia s annual rate of return on her investment?

Related Book For answer-question

Introduction to Financial Accounting

ISBN: 978-0133251036

11th edition

Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick

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Posted Date: Dec 01, 2022 11:53 PM

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Question: Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June 1987 for $38 a share

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Answer The calculated value of the annual rate of return is 999 The number of years ... View the full answer

Introduction to Financial Accounting

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