Hey, I have some questions on some math problems for Algebra 2. Think you can help? Here's the first one :)

Some investments in the stock market have gained 10% annually. the total value of the investment, A, and this rate can be found using A= P(1.10)^n where P is the initial value of this investment, and N is the number of years the money is invested. if $1,000 is invested in the stock market at this annual rate of return, what is the expected total value after 18 years?

1. $4,054.47
2. $5,559.92
3. $18,700.00
4. $19,800.00

I originally thought it was $18,700.00 but I don't know

Question

Hey, I have some questions on some math problems for Algebra 2. Think you can help? Here's the first one :) 

Some investments in the stock market have gained 10% annually. the total value of the investment, A, and this rate can be found using A= P(1.10)^n where P is the initial value of this investment, and N is the number of years the money is invested. if $1,000 is invested in the stock market at this annual rate of return, what is the expected total value after 18 years?

1. $4,054.47
2. $5,559.92
3. $18,700.00
4. $19,800.00

I originally thought it was $18,700.00 but I don't know

kc_kennylau · Answer

$$A=P(1.10)^n=1000*1.1^{18}\approx5559.92$$

anonymous · Answer

Oh wow that is way easier than what I was doing, thank you! Come check back with me I have some more! Thank you :)

kc_kennylau · Answer

ok :)