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Three years ago, Cipherbound Systems stock sold for $45 a share. Things have not gone well for the company, and the stock is now worthless.
Three years ago, Cipherbound Systems stock sold for $45 a share. Things have not gone well for the company, and the stock is now worthless.
a) What is the compound annual growth rate for this investment?
b) Rework this problem assuming that the time is 10 years instead of 3.
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