Problem 7-11 You purchase a stock for $20 and expect its price to grow annually at a rate of 10 percent. Use Appendix A to answer the questions. Round your answers to the nearest cent. What price are you expecting after seven years? $ If the rate of increase in the price doubled from 10 percent to 20 percent, would that double the increase in the price? Doubling the growth rate (Select) more than doubles/less than doubles/ or doubles the price appreciation. The increase in the price at 10% is $ and at 20% is $ . Problem 7-11 You purchase a stock for $20 and expect its price to grow annually at a rate of 10 percent. Use Appendix A to answer the questions. Round your answers to the nearest cent. What price are you expecting after seven years? $ If the rate of increase in the price doubled from 10 percent to 20 percent, would that double the increase in the price? Doubling the growth rate (Select) more than doubles/less than doubles/ or doubles the price appreciation. The increase in the price at 10% is $ and at 20% is $ ..