Some investments in the stock market have earned 10% annually. At this rate, earnings can be found 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 $15,00 is invested in the stock market at this annual rate of return, what is the expected total value after 19 years?
To find the expected total value after 19 years, plug in the given values into the formula A = P(1.10)^n.
P = $15,000 (initial investment)
n = 19 years
A = 15000(1.10)^19
A ≈ $68,389.69
Therefore, the expected total value after 19 years is approximately $68,389.69.