Could someone please help. Thanks.
Since 1998, the average value of a stock has increased by 8% each year. In 1998, the average stock was worth $28. If the trend continues, about how much will the stock be worth in 30 years in US dollars?
Please explain how you got he answer. Thanks.
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from which subject this question is related to???❓❔
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let value of stock, p = 28 dollars
n= 30 years
r = 8%
A = 28(1+8%)³⁰
= 28× 1.08³⁰ = 281.75 dollars
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