(Answered) Calculating rates of returnon december 24 2008 the common

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(Calculating rates of return)

On December 24, 2008, the common stock of Apple Inc. (APPL) was trading for $700.73. One year later the shares sold for only $298.02. APPL has never paid a common stock dividend. What rate of return would you have earned on your investment had you purchased the shares on December 24, 2007?

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