Respuesta :

Edufirst
1) Value of the stock after n years = 60 (1.03)^n

Where 1.03 means that the yearly interest, i.e when n = 1 is 3%

2) After 7 years the interests are: (1.03)^7 = 1.23, which means a total interest rate over the 7 years of 23%.


Answer: 23%