SOLUTION: Gordon got a $15,000 bonus and has decided to invest it in the stock market until he retires in 35 years. If he averages 9% return on the investment compounded annually, then how m

SOLUTION: Gordon got a $15,000 bonus and has decided to invest it in the stock market until he retires in 35 years. If he averages 9% return on the investment compounded annually, then how m

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Question 588937: Gordon got a $15,000 bonus and has decided to invest it in the stock market until he retires in 35 years. If he averages 9% return on the investment compounded annually, then how much will he have in 35 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=15000(1.09)^35
A=15000(20.41396729)
A=$306,209.50
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