Question: what is the problem type? is it implicit interest rate? please show the work. 28. Problem Type: Assume today is April 28, 1995. If you

what is the problem type? is it implicit interest rate? please show the work.

28. 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

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