Hello there!
Answer:
7.43%
Explanation:
To find the market rate of return on the Dayton repair stock, we would need to use it's selling price, expected pay, and the 2.15%.
Lets solve:
First, we divide 2.28 by 43.19.
2.28 ÷ 43.19 = 0.0527899976846492
Now we add the 2.15%. In order for us to add it, we would need to move the decimal places two times to the left. We would add 0.0215 to 0.0527899976846492.
0.0527899976846492 + 0.0215 = 0.0742899976846492
Now we would need to move the decimal places over, and round to the nearest hundredths.
7.428
The 8 would round and change the 2 into a 3
7.43.
The market rate of return for the stock would be 7.43%
