23 You bought 100 shares of a stock at S52 per share. After 240 days, you...

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Question

Answer 1

Answer #1

Answer:

Calculation of Interest rate.

Sales Value of share = $5850 (100*58.50)

Less: Bokerage =-$95.8 ($49+$46.8($5850*0.8%)

Net Sales VAlue =$5,754.20

Less: Purchase VAlue =-$5,200 (100*52)

Net Benefit =$554.2/-

No of dayes =240

Annual rate of interest = Net benefit /Investment*100

=$554.20/5200*100

= 10.66%

Annual Rate =10.66/240*365 =16.21%

Answer 2

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