George contemplates the purchase of100 shares of a stock selling for $15 per share. The stock paysno dividends. The history of the stock indicates that it shouldgrow at an annual rate of 15% per year. How much shouldthe 100 shares of stock be worth in 5 years?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...
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George contemplates the purchase of
100 shares of a stock selling for $15 per share. The stock pays
no dividends. The history of the stock indicates that it should
grow at an annual rate of 15% per year. How much should
the 100 shares of stock be worth in 5 years?

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