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Julio purchased a stock one year ago for $27. The stock is now worth $32, and the total return to Julio for owning the stock was 37 percent. What is the dollar amount of dividends that he received for owning the stock during the year

Sagot :

Abiolataiwo2015idn

Answer:

$5

Explanation:

Calculation to determine the dollar amount of dividends that he received for owning the stock during the year

First step is to calculate the total profit earned

Total profit=$27*37%

Total profit=$10

Second step is calculate the Value of stock with profits earned

Value of stock=$27+$10

Value of stock=$37

Now let calculate the the dollar amount of dividends

Dividend=$37-$32

Dividend=$5

Therefore the dollar amount of dividends that he received for owning the stock during the year is $5

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