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Problem $7-11$

You purchase a stock for $$15$ and expect its price to grow annually at a rate of $9$ percent. Use Appendix $A$ to answer the questions. Round your answers to the nearest cent.

a$.$ What price are you expecting after five years?

$

b$.$ If the rate of increase in the price doubled from $9$ percent to $18$ percent, would that double the increase in the price?

Doubling the growth rate more than doubles $*{*}^{}$ the price appreciation. The increase in the price at $9\%$ is $ and at $18\%$ is $