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jerry is contemplating the purchase of 100 shares of stock selling for $23 per share. The stock pays no dividends. The history of the stock

jerry is contemplating the purchase of 100 shares of stock selling for $23 per share. The stock pays no dividends. The history of the stock indicates that it should grow at an annual rate of 12% per year. Use annual compounding to determine how much the 100 shares of stock will be worth in 10 years? round to the nearest cent as needed.

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