$3\mathrm{.}16$ On October $1,1970,$ Walmart first offered

$300,000$ shares of its common stock to the public at

a price of $$16\mathrm{.}50$ per share. Since that time, Walmart

has had $11$ two$-$for$-$one stock splits. So if you pur$-$

chased $100$ shares in $1970,$ you would have $204,800$

shares as of September $30,2014.$ The closing price

of the stock on that day was $$77\mathrm{.}50.$ What is the com$-$

pound growth of the Walmart stock over $44$ years?

$($This is equivalent to asking what kind of interest

rate you have to earn to match the same growth from

your savings account.$)$