Question

Three year ago , Jolene bought $750 worth of stock in a software company. Since then the value of her purchase has been increase at an average rate of 12 3/5% per year. How much is the stock worth now?

Answer 1

End of First Year (750/100)x12(3/5)=54 $750+54=804
End of Second Year (804/100)x12(3/5) = 58 $804+58=862
End Of Third Year (862/100)x12(3/5) = 62  $862+62=924

STOCK WORTH NOW = 924