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Annual rate of returns

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Lucas sold his one stock for TLC, Inc at a price of $550. He purchased the stock 6 years ago. If his Arithmetic Average Return on the stock was 3.36% and his Geometric Average Return was 3.28%, what was his original purchase price? Assume no dividends paid and the AAR and GAR are based on annual rate of returns. (round to the nearest $1 and show your answer like this $394)

Reference no: EM131968841

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