Question

NEED THIS NOW.

Three years ago, Jolene bought $750 worth of stock in a software company. Since then the value of her purchase has been increasing at an average rate of 12
1
2
% per year. How much is the stock worth now? (Round each money calculation you make to the nearest cent.)

Answer 1

1053.7$

Explanation:

750$ x 12%= 90

first year: 750 + 90 = 840

840$ x 12%= 100.8$

second year: 840+ 100.8= 940.8

940.8$ x 12%= 112.896

third year (now)= 940.8+ 112.896 = 1053.696$