Your employer gives you a stock bonus of $1,000 in your company at the end of each year. You plan to retire in 20 years. The stock has a growth rate of 15 percent per annum. What will the value of your stock be in 20 years?
A) $86,421.00
B) $117,810.10
C) $72,035.10
D) $102,443.60
E) Cannot determine with the information provided.
Correct Answer:
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