Answer:
$296,954.42
Step-by-step explanation:
If any amount P is invested at rate of r% per year for n years then value of money p after n years is given by
FV = p(1 + r/100)^n
where FV is the future value of money after n years.
given
p= $19300
r = 9%
n = 5 years
Thus, FV = 193000(1 + 9/100)^5
FV = 193000((100 + 9)/100)^5
FV = 193000(109/100)^5
FV = $296,954.42
Thus, value after 5 years for the investment is $296,954.42 to the nearest cent
