Answer :
After 6 years Carmen has received $6,554.52 in dividends.
Given that Carmen buys 153 shares of cash consolidated banks each of which pays a constant yearly dividend of $7.14.
What is the constant yearly dividend?
The dividend policy in which the percentage of earnings paid in the form of dividends is held constant
The yearly dividend of $7.14 for Carmen buys 153 is given by
153 shares x $7.14 = $1,092.42
Therefore for has carmen received in dividends $1,092.42.
Therefore for 6 years, he received
$1,092.42 x 6 = $6,554.52
Therefore, after 6 years Carmen has received $6,554.52 in dividends.
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