A woman made 10 annual end-of-year purchases of $1000 worth of common stock. The stock paid no
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A woman made 10 annual end-of-year purchases of $1000 worth of common stock. The stock paid no dividends. Then for 4 years she held the stock. At the end of the 4 years she sold all the stock for $28,000. What interest rate did she obtain on her investment?
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FW FW 1000 FA i 10 FP i 4 28000 By trial and error ...View the full answer
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