Julio Purchased 400 Shares of a Certain Stock for $24,750

question 80

Short Answer

Julio purchased 400 shares of a certain stock for $24,750 (including commissions). He sold the shares 6 year(s) later and received $32,800 after deducting commissions. Find the effective annual rate of return on his investment over the 6-year period. Round your answer to the nearest hundredth.
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__________%

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Definitions:

Sensorimotor Play

Sensorimotor play is a type of activity that engages infants and young children, focusing on exploring and learning about the world through sensory and motor experiences.

Conservational Play

A stage in child development identified by Jean Piaget, where children comprehend that quantity remains the same despite changes in form or appearance, usually observed in activities involving objects.

Preoperational Stage

In Piaget’s theory, the second major stage of cognitive development, in which symbolic thought expands but children cannot yet use logic.

Sensorimotor Stage

This is the first stage of Jean Piaget's theory of cognitive development, where infants learn about the world through their senses and actions.