Two years ago, paul bought $350 worth of stock in a cell phone company. since then the value of his stock has been increasing at an average rate of 9 3/4 % per year. how much is the stock worth now?

The net worth of the stock of Paul is $421.6 approximately.

Solution:

Given, two years ago, Paul bought $350 worth of stock in a cell phone company.  

Since then the value of his stock has been increasing at an average rate of % per year.  

We have to find how much is the stock worth now?

Now, stock worth after 1 year is given as:

So, now, stock worth after 2 years is given as:

Hence, the net worth of the stock is $421.6 approximately.

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