SOLUTION: Some investments in the stock market have earned 10% annually. The total value of the investment, A, at this rate can be found using A=P(1.10)^n, where P is the initial value of th

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Some investments in the stock market have earned 10% annually. The total value of the investment, A, at this rate can be found using A=P(1.10)^n, where P is the initial value of th      Log On


   

Question 826923: Some investments in the stock market have earned 10% annually. The total value of the investment, A, at this rate can be found using A=P(1.10)^n, where P is the initial value of the investment and n is the number of years the money is invested. If $1000 is invested in the stock market at this annual rate of return, what is the expected total value after 18 years?
A.4,054.47
b.5,559.92
c.18,700.00
d.19,800.00
Answer by stanbon(75887) About Me  (Show Source):
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Some investments in the stock market have earned 10% annually. The total value of the investment, A, at this rate can be found using A=P(1.10)^n, where P is the initial value of the investment and n is the number of years the money is invested. If $1000 is invested in the stock market at this annual rate of return, what is the expected total value after 18 years?
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A(18) = 1000(1.1)^18 = $5,559.92
Cheers,
Stan H.
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A.4,054.47
b.5,559.92
c.18,700.00
d.19,800.00