Based on the stock price and its growth rate, the function that models the situation is 48 (1 + 8%) ^ n. The price of the stock 6 years from now is $76.17.
<h3>What is the best function for the stock's growth?</h3>
The value of a stock in future can be calculated using several types of formulas that take into account the various characteristics of the stock.
For this stock, the value of the stock at any given year is:
= Current price of stock x ( 1 + growth rate) ^ number of years from now
Assuming the number of years is n, the function becomes:
= 48 x ( 1 + 8%) ^n
In 6 years, the price will be:
= 48 x ( 1 + 8%) ⁶
= $76.17
Find out more on stock price growth at brainly.com/question/19338801
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