Find the effective rate corresponding to the nominal rate of 6.25% compounded semiannually.

A stock that sold for $22 at the beginning of the year was selling for $24 at the end of the year. If the stock paid a dividend of $0.50 per share, what is the simple interest rate on an investment in this stock?

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## This question was asked on May 16, 2010 and answered on May 16, 2010.

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