You bought 300 shares of General Electric (GE) stock at $3,200 on April 30, 2009. Your intention

Question:

You bought 300 shares of General Electric (GE) stock at $3,200 on April 30, 2009. Your intention is to keep the stock until it doubles in value. If you expect 8% annual growth for GE stock, how many years do you anticipate holding onto the stock? Compare your answer with the solution obtained by the Rule of 72.