To calculate the rate of return, we need to find the total cost of purchasing the stock and the total revenue from selling it.
Total cost = (30 shares * $40/share) + $6 commission
Total cost = $1200 + $6 = $1206
Total revenue = $1300
Rate of return = ((Total revenue - Total cost) / Total cost) * 100
Rate of return = (($1300 - $1206) / $1206) * 100
Rate of return ≈ (94 / 1206) * 100
Rate of return ≈ 0.0781 * 100 Rate of return ≈ 7.81%
Rounded to the nearest tenth, the rate of return is approximately 7.8%.
