Question

Three years ago, Ashly bought $920 worth of stock in a software company. Since then the value of her purchase has been increasing at an average rate of 11 12 % per year. How much is the stock worth now?

Answer 1

$1022.304

Explanation:

Given data

time if investment= 3 years

amount=$920

rate= 11.12%

we want to find the 11.12% of $920 is

= (11.12/100)*920

=0.1112*920

=102.304

Therefore we are going to add the 102.304 to the amount invested which is

102.304+920

=$1022.304

stock worth is $1022.304