A businessman purchases a common stock worth P1,000 every year for a period of 10 years. At the of the end 10th year just after his last purchase, he sold all his stock to a prospective buyer for P12,000. Find the rate of return he received on the investment.
A businessman purchases a common stock worth P1,000 every year for a period of 10 years. At the of the end 10th year just after his last purchase, he sold all his stock to a prospective buyer for P12,000. Find the rate of return he received on the investment.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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A businessman purchases a common stock worth P1,000 every year for a period of 10 years. At the of the end 10th year just after his last purchase, he sold all his stock to a prospective buyer for P12,000. Find the rate of return he received on the investment.
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