To find the amount in the form of a×10^n, we need to round $15,528.23 to the nearest place value and determine the value of a and n.
After 10 years of monthly $100 deposits at a 5% interest compounded monthly, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment
P = the principal amount (monthly deposit)
r = annual interest rate (expressed as a decimal)
n = number of times that interest is compounded per year
t = number of years the money is compounded for
Given:
P = $100
r = 5% = 0.05
n = 12 (since the interest is compounded monthly)
t = 10
Plugging in these values in the compound interest formula, we can solve for A:
A = 100(1 + 0.05/12)^(12*10)
A ≈ 100(1.004167)^(120)
A ≈ 125.8232
Rounding this value to the nearest place value, we get $125.82.
To express $125.82 in the form of a×10^n, we need to determine the value of a and n.
$125.82 = a×10^n
To express $125.82 in scientific notation, we shift the decimal point to the left until it is between 1 and 10. In this case, we shift the decimal point 2 places to the left, giving us 1.2582.
Therefore, $125.82 can be expressed as 1.2582×10^2.
It takes 10 years for a $100 monthly bank deposit to amount to $15,528.23 when invested at 5% interest compounded monthly. Round to the nearest place value, then express the amount $15,528.23 in the form of a×10^n
where a
is single digit.(1 point)
3 answers
Country S has 12,345,000 residents who tested positive for COVID-19. What is the largest place value of the numeric part of this quantity?(1 point)
The largest place value of the numeric part of the quantity 12,345,000 is the "Million" place, which is represented by the digit 1 in the millions place.
1 answer