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?

## Answer This Question

## Related Questions

- math - What would be the compound amount after 19 years on an investment of $42,...
- business math - What would be the compound amount after 19 years an investment ...
- business math - What would be the compound amount after 19 years on an ...
- Algebra - Greta invests $10,000 in an investment that pays 3% interest, ...
- Compound interest - Hello My teacher skipped over this and I have no clue how to...
- pre-calculus - find (a) the compound amount and (b) the compound interest for ...
- Financial Math - An investment of $2500 accumulates at 6% p.a compounded semi ...
- compemtary math - . To determine the compound amount of an investment of $10,...
- Compound Interest - Payments of $1,800 and $2,400 were made on a $10,000 ...
- compound interest - How do I solve these problems? Complete the table for a ...

More Related Questions