Problema woman made ten annual end-of-the-year purchases of, Ask an Expert

Finance

Problem:

A woman made ten annual end-of-the-year purchases of $1000 of common stock. At the end of the tenth year, she sold all the stock for $12000.

Requirement:

Question: What interest rate did she obtain on her investment?

Note: Please explain comprehensively and give step by step solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91175158

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