Author Question: Dane purchased 3,000 shares of a mutual fund at an offer price of 6.03 per share. Later, he sold the ... (Read 31 times)

dbose · **on:** Jun 24, 2018

Dane purchased 3,000 shares of a mutual fund at an offer price of 6.03 per share. Later, he sold the investment for 3.64 per share. During the time Dane owned the shares, the fund paid a dividend of 0.52 per share. What was his return on investment? (Round to nearest tenth percent)
A) 31.0
B) 37.1
C) +44.3
D) +41.2

Question 2

On August 5, Lacey Jewelry Store purchased 5,000 of jewelry from their supplier with terms of 2/10, n/45. Lacey did not have sufficient cash on August 15 to take advantage of the cash discount, but is able to borrow money from the bank at 12.6 ordinary interest. How much can be saved by borrowing the funds for 30 days in order to take advantage of the cash discount?