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A stock purchased on January 1 cost $4.35 per share. The same stock, sold on December 31 of the same year, brought in $4.75 per share. What was the approximate return on this stock?

Respuesta :

Answer:

Approximate rate of return will be 9 %

Explanation:

We have given a stock is purchased on January 1 of cost $4.35

And sold at the same year on December 31

We have to find the rate of return

Rate of return will be equal to [tex]=\frac{cost\ of\ stock\ on\ December\ 31-price\ of\ stock\ on\ January\ 1}{price\ of\ stock\ on\ January\ 1}=\frac{4.75-4.35}{4.35}=0.09[/tex] = 9%

So approximate rate of return will be 9 %

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