Julio purchased 700 shares of a certain stock for $22,750 (including commissions). He sold the shares 5 year(s) later and received $32,100 after deducting commissions. Find the effective annual rate of return on his investment over the 5-year period. Round your answer to two decimal places.
?

A. 7.13%
B. 6.91%
C. 6.95%
D. 7.01%


Answer: A

Mathematics

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A.  
B.  
C.  
D.

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What will be an ideal response?

Mathematics