What would be the compound amount after 19 years on an investment of $42,000 with an 11% interest rate compounded annually?

Solution:- Given, P=42,000, r=0.11 and t=19

So, Amount after 19 years= 42000(1+0.11)^19

                                    = 42000(1.11)^19

                                    =305060.44

Amount after 19 years=$305060.44