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21-08-2020
Business

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You sell a stock for $50.00 that was held for 10 years. You earned a return of 8%. What was the original cost of the stock?

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Tundexi Tundexi

23-08-2020

Answer:

Original cost of the stock = $23.16

Explanation:

Original cost of the stock = Selling price of stock / ( 1 + r )^n

Original cost of the stock = $50 / (1+8%)^10

Original cost of the stock = $50 / (1.08)^10

Original cost of the stock = $23.16

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