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Solve the Problem. -An Investor Buys 100 Shares of a Stock for $20,000

Question 63

Multiple Choice

Solve the problem.
-An investor buys 100 shares of a stock for $20,000. After 5 years the stock is sold for $32,000. If interest is compounded continuously, what annual nominal rate of interest did the original $20,000 investment earn?
(Represent the answer as a percent to three decimal places.)


A) 8.470%
B) 1.200%
C) 9.400%
D) 0.094%

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