Three years ago, jolene bought $550 worth of stock in a software company. since then the value of her purchase has been increasing at an average rate of 10 1 2 % per year. how much is the stock worth now? (round each money calculation you make to the nearest cent.)

Hence the the value of stock after three years worth $734.44  

Step-by-step explanation:

According to question ,

Jolene bought three years ago, stock in a company worth = $550

The value has been increase after three year at rate of = 10.12 %

So,

The value after three years can be written as

Final value = initial value

Or, Final value = $550

Or, Final value = $550 (1.102)³

Or, Final value = $550 × 1335

I.e final value = $734.44

Hence the the value of stock after three years worth $734.44  Answer

step-by-step explanation:

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