As you are going through family records, you notice that your great-grandfather purchased 500 shares at $2.10 a share for a company called Bubba Gump Shrimp. When you search the internet for this company, you found that they list the value of their stock at $154.16 per share. You decide to sell all the shares and invest this into a retirement fund paying 9% annual interest. If you were to sell all your great-grandfathers shares, how much would you have to invest in your retirement?
a.
$1,050.00
c.
$6,937.20
b.
$77,080.00
d.
$6,930.00