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What is the rate of return when 15 shares of StockA, purchased for $30/share, are sold for $500? Thecommission on the sale is $6.Rate of Return = [?] %Give your answer as a percent rounded to the

What is the rate of return when 15 shares of StockA purchased for 30share are sold for 500 Thecommission on the sale is 6Rate of Return Give your answer as a pe class=

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Answer:

Rate of return = 12.4 %

Explanations:

Cost per share = $30

Number of shares = 15

Cost price = 30 x 15

Cost price = $450

Selling price = $500

Commission = $6

Total return = $500 + $6

Total return = $506

[tex]\begin{gathered} \text{Rate of Return = }\frac{506-450}{450}\times100 \\ \text{Rate of Return = }\frac{56}{450}\times100 \\ \text{Rate of Return = }12.4\text{ \%} \end{gathered}[/tex]

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