One year ago, you purchased 200 shares of stock for $29 a share. the stock pays $.60 a share in dividends each year. today, you sold your shares for $31.60 a share. what is your total dollar return on this investment?
$880
$690
$720
$540

$640 is the correct answer to this question but it is missing in the choices.

Explanation:

Total amount paid for all shares last year is found by multiplying the number of shares bought by the price of one share.

Number of shares purchased = 200

Price per share = $29

Total amount paid for all shares last year = 200 *29 = $5,800

If the stock pays $0.60 dividend per share, find the total dividend received for your 200 shares you initially bought;

= 200 *$0.60

Total dividend received = $120

Next, you are selling it for 31.60, find the total proceeds you will receive from your sale of 200 shares;

Total proceeds from sales = 200 * $31.60

Total proceeds from sales = $6,320

Dollar return = net proceeds from sale + dividend income - purchase price

Dollar return = $6,320 + $120 - $5,800

= $640

answer; /// the above statement is (true);

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