Your employer gives you a stock bonus of $1,000 in your company at the beginning 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) $72,035.10
B) $86,4421.00
C) $102,443.60
D) $117,810.10
E) Cannot determine with the information provided.
Correct Answer:
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