What interest rate compounded annually-does this represent

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Reference no: EM131618063

Microsoft's stock price peaked at 6118% of its I.P.O. price more than 13 years after the I.P.O.† Suppose that $10,000 invested in Microsoft at its I.P.O. price had been worth $600,000 (6000% of the I.P.O. price) after exactly 13 years. What interest rate, compounded annually, does this represent? (Round your answer to two decimal places.)

Reference no: EM131618063

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