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You purchase a stock for $ 1 5 and expect its price to grow annually at a rate of 6 percent. Use Appendix A to

You purchase a stock for $15 and expect its price to grow annually at a rate of 6 percent. Use Appendix A to answer the questions. Round your answers to the nearest cent.
What price are you expecting after six years?
$
If the rate of increase in the price doubled from 6 percent to 12 percent, would that double the increase in the price?
Doubling the growth rate _____ the price appreciation. The increase in the price at 6% is $ ______ and at 12% is $ _____.

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