A stock that sold for $12 per share at the beginning of the year was selling for $89 at the end of the year. If the stock paid a dividend of $1.06 per share, what is the simple interest rate on the investment in this stock? Consider the interest to be the increase in value plus the dividend. The simple interest rate is %. (Do not round until the final answer. Then round to the nearest tenth as needed.)
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Increase in value = Ending price - Beginning price Increase in value = $89 - $12 Increase in value = $77 Show more…
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