Posted by **Tim** on Monday, July 1, 2013 at 10:49pm.

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

- math -
**Henry **, Tuesday, July 2, 2013 at 6:44pm
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 -
**Henry **, Tuesday, July 2, 2013 at 6:50pm
See Related Questions: Mon,7-1-13,10:

- math -
**Trish**, Thursday, July 4, 2013 at 2:31pm
Ok totally lost here. For someone new to this could you please explain in understandable terms?

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