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How much will carl accumulate

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Question - Carl Patterson likes investing in stocks that pay dividends. Carl owns 90 shares of a local utility company. The stock pays a regular annual dividend in the amount of $4.00 per share, and the company has indicated that the dividend will stay the same for a long time. If Carl reinvests his dividends each year and the dividends earn a return of 5 percent each year, how much will Carl accumulate in 14 years?

Reference no: EM133163853

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