Answer:
You will have to wait 6 years before you sell the stock.
Explanation:
a) Data and Calculations:
Honda stock bought = 200
Price per share = $300
Annual increase in price = 30%
Future value factor at 30% for 6 years = 4.827
Future value of the stock after 6 years = $14,481 ($300 * 4.827)
By this time, the value of the stock has quadrupled or become more than four times its value when it was initially purchased, if it continues to increase by 30% year-on-year.
