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math

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

  • math - ,

    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.

  • 49PM.ath - ,

    See Related Questions: Mon,7-1-13,10:

  • math - ,

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

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