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Mary Skinner inherited a sum ofs50000 five years ago and bought 10UU shares or ibEM at per share She sold 400 shares of the stock three years ago for 57 per share and invested the money

Mary Skinner inherited a sum ofs50,000 five years ago and bought 10UU shares or ibEM at per share. She sold 400 shares of the stock three years ago for $57 per share and invested the money in a CD that paid 8% interest per year compounded quarterly. Mary cashed the CD today and sold the remaining 600 shares of stock for $65 per share. What nominal interest rate did she earn on her inheritance?

 

Mar 18 2020 View more View Less

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