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 $1500 is invested in the stock market at this annual rate of return, what is the expected total value after 19 years? explain

Answer 1

To calculate the expected total value after 19 years, we need to substitute the given values into the formula A = P(1.10)^n.

In this case, P is $1500, and n is 19 years. So the formula becomes:

A = $1500 * (1.10)^19

Calculating this equation, the expected total value after 19 years is:

A = $1500 * (1.10)^19 ≈ $5,490.84

Therefore, the expected total value of the investment after 19 years is approximately $5,490.84.