Use the commission schedule from Company A shown in the table to find the annual rate of interest earned on the investment. (Note: commissions are rounded to the nearest cent.)
An investor purchases 247 shares at $12.17 a share, holds the stock for 44 weeks, and then sells the stock for $12.91 a share. the annual rate is? here’s the schedule: Principal (Value of Stock)
Under $3,000
$3,000 to $10,000
Over $10,000
Commission
$25 + 1.8% of principal $37 + 1.4% of principal
$107 + 0.7% of principal