How to Become a Billionaire

Algebra Level 3

Warren Buffett, one of the wealthiest men on earth, had a net worth of about $6,000 at age 15. By the year 2013 (age 83), his wealth grew to $60,000,000,000. The compound growth rate over the period was approximately \(\text{_______}\) per month.

\(\)
Note: Don't use a calculator. Use the following log values, if necessary: \[\begin{align} \log 1.20 &=0.079\\ \log 1.15 &=0.061\\ \log 1.10 &=0.041\\ \log 1.05 &=0.021\\ \log 1.03 &=0.013\\ \log 1.02 &=0.009\\ \log 1.01 &=0.004. \end{align}\]

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