What is one major advantage of long-term savings strategies? A.
They make more money available for nonessential purchases.
B.
They allow savings to grow significantly over time.
C.
They generally have the lowest available interest rates.
D.
They make it easier to pay for monthly expenses.

Microsoft's stock price peaked at 6118% of its ipo price more than 13 years after the ipo suppose that $10,000 invested in microsoft at its ipo price had been worth $600,000 (6000% of the ipo price) after exactly 13 years. what interest rate, compounded annually, does this represent? (round your answer to two decimal places.)