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A friend of yours told you about a stock she has owned for a few years. She tells you that she originally invested $10,000
A friend of yours told you about a stock she has owned for a few years. She tells you that she originally invested $10,000 and the stock has averaged a compound annual return of $12%. The stock is now worth $15,735.20. For how many years has your friend owned the stock? Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Multiple Choice 5 years 6 years 3 years 4 years
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