Problem 7-11 You purchase a stock for $15 and expect its price to grow annually at a rate of 8 percent. Use Appendix A to answer the questions. Round your answers to the nearest cent. a. What price are you expecting after seven years? b. If the rate of increase in the price doubled from 8 percent to 16 percent, would that double the increase in the price? Doubling the growth rate -Select- A the price appreciation. The increase in the price at 8% is $ 16% is $ and at