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Logistics Corporation recently paid a dividend per share of $5. The company's dividend grows at a constant rate of 8% annually. Based on this information. What is the dividend in 6 years? Dt=𝐷𝑜 ∗ 〖(1+𝑔)〗^𝑡

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Answer to a math question Logistics Corporation recently paid a dividend per share of $5. The company's dividend grows at a constant rate of 8% annually. Based on this information. What is the dividend in 6 years? Dt=𝐷𝑜 ∗ 〖(1+𝑔)〗^𝑡

Expert avatar
Gene
4.5
108 Answers
1. Given:

- Current dividend, D_o = 5

- Growth rate, g = 0.08

- Time period, t = 6

2. Formula for future dividend:

D_t = D_o * (1 + g)^t

3. Substitute the given values:

D_t = 5 * (1 + 0.08)^6

4. Calculate the growth factor:

(1 + 0.08)^6

5. Find the growth factor value:

(1.08)^6 \approx 1.5868743221

6. Calculate the future dividend:

D_t=5*1.5868743221\approx7.93437

7. Round to two decimal places:

D_t \approx 7.93

Final answer: 7.93

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