Problem
Consider the following information for the BU Scholarship Investment Fund. The total investment in the fund is $1 million.
|
Stock
|
Investment Amount
|
Stock's Return Last Year
|
|
A
|
$200,000
|
8.5%
|
|
B
|
$500,000
|
17.7%
|
|
C
|
$300,000
|
9.8%
|
Based on this information, what was the annual rate of return for the BU Scholarship Investment Fund last year?