Microsoft's stock price peaked at 6118% of its ipo price more than 13 years after the ipo† suppose that $40,000 invested in microsoft at its ipo price had been worth $2,400,000 (6000% of the ipo price) after exactly 13 years. what interest rate, compounded annually, does this represent? (round your answer to two decimal places.)

37.02%

Step-by-step explanation:

The formula of compound interest we will use is:

Where

FV is the future value [2,400,000 in this case]

PV is the present value [40,000 was invested]

r is the rate of interest per year (what we want to find)

t is the time in years [13 years]

Substituting and solving for r:

Thus, rate of interest was 37.02% (rounded to 2 decimal places)

answer: 1 and 3

step-by-step explanation: