Some investments in the stock market have earned 10% annually. At this rate, earnings can be found using the formula A=P(1.10)^n, where A is the total value of the investment, P is the initial value of the investment, and n is the number of years the money is invested. If $15,00 is invested in the stock market at this annual rate of return, what is the expected total value after 19 years?

Answer 1

To find the expected total value after 19 years, plug in the given values into the formula A = P(1.10)^n.

P = $15,000 (initial investment)
n = 19 years

A = 15000(1.10)^19
A ≈ $68,389.69

Therefore, the expected total value after 19 years is approximately $68,389.69.