Carl Patterson likes investing in stocks that pay dividends Carl owns 25 shares of a local utility company The stock pays a regular annual dividend in the amount of $3 00 per share and the company has indicated that the dividend will stay the same for a long time If Carl reinvests his dividends eac...

Carls investment will be worth 1745 ...

Carl Patterson likes investing in stocks that pay dividends. Carl owns 25 shares of a local utility

Question:

Carl Patterson likes investing in that pay dividends. Carl owns 25 shares of a local utility company. The stock pays a regular annual in the amount of $3.00 per share and the company has indicated that the will stay the same for a long time. If Carl reinvests his dividends each year and the dividends earn a return of 6 percent each year, how much will Carl accumulate in 15 years?
Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...