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3.15 You bought 300 shares of General Electric (GE) stock at $7,800 on January 2, 2015. Your inten- tion is to keep the stock until

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3.15 You bought 300 shares of General Electric (GE) stock at $7,800 on January 2, 2015. Your inten- tion is to keep the stock until it doubles in value. If you expect 6% annual growth for GE stock, how many years do you anticipate holding onto the stock? Compare your answer with the solution obtained by the Rule of 72 (discussed in Example 3.10)

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