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6.7 Exercise 21

Avg difficulty 2.5

Haniah buys stock in the ABC company, investing a total of $13,000. After 20 years, the stock is worth $132,293.49, including reinvestment of dividends.

  1. What is Haniah’s return on investment?
  2. What is Haniah’s annual return?

OpenStax Contemporary Mathematics, 6.7 Investments, exercise 21

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Adapted from Contemporary Mathematics © 2023 Rice University. Licensed under CC BY 4.0. Source: Contemporary Mathematics. Imported at revision fa7c1a1.