Homework Answers
The answer is 51.5038%
Annual rate of return
= [(Sale value - Purchase value - Commission) / Purchase value]/284 x 360
= [( $13359.38 - $9421.52 - $150.26) / $9421.52] /284 x 360
= 51.5038%
where,
Investment amount/Purchase value = 262 shares x $35.96 = $9421.52
Commission = $56 + ($9421.52 x 1%) = $150.26
Sale value = 262 shares x $50.99 = $13359.38
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