1. Imagine that 50 years ago, your aunt made an investment of $10 into an account that...
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1. Imagine that 50 years ago, your aunt made an investment of $10 into an account that earned 12% each year. What is the effect of compounding? (Round to 2 decimal places, do not include dollar signs in your response.)
2. When first introduced in 1985, Nike Air Jordan’s sold for $65. Today (July 2, 2018) on stockx.com, a pair sold for $3023. What is the annual rate of growth of the price of the Air Jordan’s? (Note – assume t=33 years.) Include only numbers in your answer. Convert to percent. Round to 2 decimal places.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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