If Apple's Stock Underwent Simple Interest Increase from February, 2005

question 19

Multiple Choice

If Apple's stock underwent simple interest increase from February, 2005, through August, 2005 and into 2006, what would the price be in December, 2006 Round your answer to the nearest cent. $$\begin{array} { | l | l | l | l | l | l | l | } \hline \text { Month } & \text { Dec. } 1997 & \text { Aug. } 1999 & \text { Mar. } 2000 & \text { May 2000 } & \text { Aug. } 2000 & \text { Dec. } 2000 \\\hline \begin{array} { l } \text { Monthly } \\\text { Price }\end{array} & 3.28 & 16.31 & 33.95 & 21 & 30.47 & 7.44 \\\hline \text { Month } & \text { Jan. } 2002 & \text { Mar. } 2003 & \text { Oct. } 2003 & \text { Nov. 2004 } & \text { Feb. } 2005 & \text { Aug. 2005 } \\\hline \begin{array} { l } \text { Monthly } \\\text { Price }\end{array} & 12.36 & 7.07 & 11.44 & 33.53 & 44.86 & 45.78 \\\hline\end{array}$$

• A)$48.33
• B) $48.54
• C) $49.23
• D) $47.49
• E) $48.23