### Home > PC3 > Chapter 6 > Lesson 6.1.1 > Problem6-15

6-15.

When Gretchen was born her grandmother purchased a stock in her name. The value of stock was $1200$. On her 18th birthday Gretchen finds out about the stock and realizes it is worth $5000$. What was the average annual rate of return for the stock?

$5000=1200\left(1+r\right)^{18}$