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Annual growth rate of the value of the stock

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Reference no: EM132790230

Apple's stock was worth $11.78 on in January of 2007, a few weeks before the iPhone was announced. As you know, the iPhone was a big hit and in January of 2018 the stock was selling for $175.48. What was the annual growth rate of the value of the stock? (Give your answer as a decimal, e.g. 7.5% would be 0.075.)

Reference no: EM132790230

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