You own 50 shares in a major corporation stock valued at $128 per share. This stock gained 12% in value last year. Assuming the stock will continue to grow at the same rate over the next 5 years, calculate the value of the stock per share in the 5th year.

Explanation:

The growth of this stock is an example of annual compounded interest: the value will increase at the same rate over the next 5 years, thus every year its value will be multiplied by 1 + 0.12 = 1.12.

Thus, at the end of the year 5, the share will have multiplied its value (1.12)⁵ times:

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

2,283,000

explanation:

i just had to add it