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

Algebra ->  Polynomials-and-rational-expressions -> 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      Log On


   

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) About Me  (Show Source):
You can put this solution on YOUR website!
A=15000(1.09)^35
A=15000(20.41396729)
A=$306,209.50