Some investments in the stock market have earned 10% annually. At this rate, earnings can be found using the formula A=P(1.10)^r, 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 $1,500 is invested in the stock market at this annual rate of return, what is expected of the total value in 18 years?

Question

kasim17 · Answer

27000

anonymous · Answer

My choices are 29,7000.00, 28,050.00, 8,339.88 and 7, 581.71

kasim17 · Answer

oh ok thought my answer was too big so i started over

u should put those in beginning

anonymous · Answer

Sorry, I'm in a bit of a rush.

kasim17 · Answer

finals?

kasim17 · Answer

28,050.00 im not entirely sure though

anonymous · Answer

No, just a normal assignment. I'm just very behind.

anonymous · Answer

Thank you.

kasim17 · Answer

np

kasim17 · Answer

doesn't hurt to double check though with someone else

wolf1728 · Answer

Total = Principal*(1+r)^n Total = 1,500.00 * (1+10)^18 Total = 1,500.00 * (5.5599173135) Total = 8,339.88 For a double-check, enter the numbers here: http://www.1728.org/compint.htm

wolf1728 · Answer

Second line should read 
1,500.00 * (1.10)^18

anonymous · Answer

Alright, thank you.

wolf1728 · Answer

u r welcome

anonymous · Answer

I fanned one of you and best response the other, so it's equal. Thank you both.

kasim17 · Answer

np