Problemcecilia bought 100 shares of minnesota mining and, Ask an Expert

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Problem:

Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June, 1987 for $38 a share for a total investment of $3,800. She sold the shares in June, 1996 for $8,960.

Required:

Question: What is Cecilia's annual rate of return on her investment?

Note: Please provide reasons to support your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91168736

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