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You purchase a stock for $15 and expect its price to grow annually at a...

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Finance

You purchase a stock for $15 and expect its price to grow annually at a rate of 7 percent. Use Appendix A to answer the questions. Round your answers to the nearest cent.

  1. What price are you expecting after five years? $

  2. If the rate of increase in the price doubled from 7 percent to 14 percent, would that double the increase in the price?

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