Cecilia Bought 100 Shares of Minnesota Mining and Manufacturing in June

question 87

Multiple Choice

Cecilia bought 100 shares of Minnesota Mining and Manufacturing in June, 1987 for $38 a share for a total investment of $3,800.She sold the shares in June, 1996 for $8,960.What is Cecilia's annual rate of return on her investment?

• A)10%
• B)10.6%
• C)11%
• D)11.2%

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