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 $15,000 is invested in the stock market at this annual rated of return, what is the expected total value after 19 years?
To find the expected total value after 19 years, we need to substitute the given values into the formula A = P(1.10)^n.
P = $15,000
n = 19
Using the formula, we have:
A = 15000(1.10)^19
Let's calculate the result using this formula.