Author Question: Donald Yates purchased 400 shares of Adco Mutual Fund for an offer price of 3.28. He later sold the ... (Read 71 times)

darbym82 · **on:** Jun 24, 2018

Donald Yates purchased 400 shares of Adco Mutual Fund for an offer price of 3.28. He later sold the shares at a net asset value of 5.16 per share. During the time Donald owned the shares, Adco paid a dividend of .23 three times. What was Donald's return on his investment? (Round to the nearest tenth of a percent)

Question 2

Narrative 11-1 Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Refer to Narrative 11-1. Lane invests 7,000, at 7 interest, compounded annually for 22 years. Calculate the compound interest for his investment.
A) 31,012.80
B) 8,753.25
C) 24,012.80
D) 15,655.23