Question

ane is an engineer with Southwest Airlines. She purchased Emmar stock for $6.90 per share and...

ane is an engineer with Southwest Airlines. She purchased Emmar stock for $6.90 per share and sold it exactly 1 year later for $13.14 per share. She was very pleased with her investment earnings. Help Jane understand exactly what she earned in terms of:

Effective annual rate=........%

0 0
Add a comment Improve this question Transcribed image text
Answer #1

The effective interest rate she earned = % change in the price of the stock = (13.14 - 6.90)/6.90 * 100 = 6.24/6.90 * 100 = 624/6.90 = 90.43%

Answer: 90.43%

Add a comment
Know the answer?
Add Answer to:
ane is an engineer with Southwest Airlines. She purchased Emmar stock for $6.90 per share and...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT