What would be the compound amount after 19 years on an investment of $42,000 with an 11% interest rate compounded annually?

Answer 1

P = Po(1+r)^n.

Po = $42,000
r = 11%/100% = 0.11
n = 1comp./yr. * 19yrs = 19 Compounding
periods.

Plug the above values into the given Eq and solve for P.

Answer 2

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Answer 3

Ok totally lost here. For someone new to this could you please explain in understandable terms?