On december 12 of 1980 apple computer sold shares in an, Business Economics

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On december 12 of 1980 apple computer sold shares in an

On December 12 of 1980, Apple Computer sold shares in an initial public offering (IPO) for $22 per share. Since then, the stock has split 2-for-1 three times: June of 1987, June of 2000, and February of 2005. If you bought 100 shares at the IPO and sell your shares for $225 each on December 12 of 2010, what is the (annual) return on your investment? Ignore any dividends during that time.

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