A couple bought some stock for $30 per share that pays an annual dividend of $0.90 per share. After 1 year the price of the stock was $33. Find the simple interest rate on the growth of their investment %

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.40TI: Susana invested a principal of $36,000 in her bank account with interest rate 6.5%. How much...
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A couple bought some stock for $30 per share that pays an annual dividend of $0.90 per share. After 1 year the price of the stock was $33. Find the simple interest rate on the growth of their investment.
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Transcribed Image Text:A couple bought some stock for $30 per share that pays an annual dividend of $0.90 per share. After 1 year the price of the stock was $33. Find the simple interest rate on the growth of their investment. %
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