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6.7 Exercise 3

Avg difficulty 2.5

Haniah buys stock in the ABC company, investing a total of $13,000. She expects the stock to grow, through stock price increase and reinvestment of dividends, by 12.3% per year and compounded annually. If she leaves that money invested, how much will the stocks be worth in 20 years?

OpenStax Contemporary Mathematics, 6.7 Investments, exercise 3

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