Carl Patterson likes investing in stocks that pay dividends Carl owns 25 shares of a local utility company The stock pays a regular annual dividend in the amount of $3 00 per share and the company has indicated that the dividend will stay the same for a long time If Carl reinvests his dividends each year and the dividends earn a return of 6 percent each year, how much will Carl accumulate in 15 years

Question: Carl Patterson likes investing in stocks that pay dividends. Carl owns 25 shares of a local utility company. The stock pays a regular annual dividend

Carl Patterson likes investing in that pay dividends. Carl owns 25 shares of a local utility company. The stock pays a regular annual in the amount of $3.00 per share and the company has indicated that the will stay the same for a long time. If Carl reinvests his dividends each year and the dividends earn a return of 6 percent each year, how much will Carl accumulate in 15 years?

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