Microsoft's stock price peaked at 6118% of its IPO price more than 13 years after the IPO† Suppose that $35,000invested in Microsoft at its IPO price had been worth $2,100,000 (6000% of the IPO price) after exactly 13 years. What interest rate, compounded annually, does this represent? (Round your answer to two decimal places.)
Microsoft's stock price peaked at 6118% of its IPO price more than 13 years after the IPO† Suppose that $35,000invested in Microsoft at its IPO price had been worth $2,100,000 (6000% of the IPO price) after exactly 13 years. What interest rate, compounded annually, does this represent? (Round your answer to two decimal places.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Microsoft's stock price peaked at 6118% of its IPO price more than 13 years after the IPO† Suppose that $35,000invested in Microsoft at its IPO price had been worth $2,100,000 (6000% of the IPO price) after exactly 13 years. What interest rate, compounded annually, does this represent? (Round your answer to two decimal places.)
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