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:

TMC Recommended Practice

Guidelines or standards recommended by the Technology & Maintenance Council focused on improving vehicle maintenance and engineering practices within the trucking industry.

Bearing Endplay

The axial movement allowed between a bearing's components, crucial for managing thermal expansion and mechanical clearance.

Commercial Truck Wheel Ends

The assembly at the end of a truck's axle, including components like the wheel hub, bearings, and lug nuts, crucial for wheel attachment and rotation.

Seating At The Bead

The process of ensuring the edge of a tire is properly positioned against the rim of the wheel, securing the tire in place.