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23 August, 09:51

If Penny bought a stock for $80 dollars and could sell it 15 years later for 4 times what she originally paid, what is Penny's return on owning this stock? (Enter your answer as a whole percentage (e. g ...35 should be entered as 35).)

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  1. 23 August, 10:47
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    10%

    Explanation:

    Data provided in the question

    Purchase value of the stock = $80

    Number of years = 15

    Times = 4

    So, the return on owning this stock is

    = Number of times^ (1 : number of years) - 1

    = 4^ (1:15) - 1

    = 4^0.0666666667 - 1

    = 1.0968249797 - 1

    = 0.0968249797

    = 10% round off

    All other things that are mentioned in the question is not relevant. Hence, ignored it
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