Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using your stocks average return as the compounding rate, use TVM to determine how long it will take your stock to double in value. Use
Using your stocks average return as the compounding rate, use TVM to determine how long it will take your stock to double in value. Use your stocks current market value as your PV and make sure your FV is double that amount. Solve for the number of years/periods (N).
Target Stock's Average Return:
The average annual return is 37.04%
Average monthly return is 2.66%
Stock's Current Market Value (PV): 243.84
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started