From the end of 2001 until the end of 2016, the Standard & Poor's 500 (S&P 500) US stock index rose from 330.2 to 1248.3. If an investor had invested $50,000 in a portfolio of the shares of the 500 companies at the end of 2001 in the Index, what would the value of those shares have been at the end of 2016? (This calculation considers only the price appreciation of the original shares. It does not include the portion of the growth in the portfolio's value resulting from the receipt and reinvestment of dividends.)
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