Question

Two years ago, Paul bought $350 worth of stock in a cell phone company. Since then the value of his stock has been increasing at an average rate of 9 % per year . How much is the stock worth now?

Answer 1

Answer: The difference for the annual 9% increase is 31.5 The answer is $413.

Explanation:

Since Paul bought his stock two years ago, the total difference is $63. 350+63=$413.

Answer 2

The stock is now worth $415.84 .