Use the commission schedule from Company B shown in Table 3 to find the annual rate of interest earned by each investment in Problems 61 and 62 Company B Principal Commission Under $3000 $32 + 1.8% of principal $3000-$10,000 $56 + 1% of principal Over $10,000 $106 + 0.5% of principal An investor purchases 215 shares at $45.75 a share, holds the stock for 300 day, and then sells the stock for $51.90 a share. I’m stuck on this problem this is what I have so far. Total investment 45.75 (215) = 9.771.75 56 + (.01) (9771.75) = $153.72 9771.75 + 153.72 = 9925.47 Total return 51.90(215) = 11,1158.5 106 + 11158.5) (.05) = 161.8 111158.5-161.8 = 10996.7 A= 10996.7 P= 9975.47 and t= 300/360 = 5/6 A = P(1 + rt) 10996.7 = 9975.47 (1+ 5/6r)
