Question

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×10n
where a
is single digit.(1 point)
blank

1 answer

To express the amount $15,528.23 in the form of \( a \times 10^n \), where \( a \) is a single digit, we follow these steps:

  1. Identify \( a \) and \( n \) so that \( a \) is a single digit (between 1 and 9, inclusive) and \( n \) is an integer.

Starting with $15,528.23, we can rewrite it as follows:

\[ 15,528.23 = 1.552823 \times 10^4 \]

Here, \( a = 1.552823 \) (which isn't a single digit yet), but we can express \( 1.552823 \) as \( 1.6 \) when rounded to one decimal place.

Thus, \( a \) is rounded to \( 1.6 \) and the exponent \( n \) is \( 4 \).

Finally, we round \( 15,528.23 \) to two decimal places:

\[ 15,528.23 \approx 1.6 \times 10^4 \]

So the answer is:

\[ a = 1.6, \quad n = 4 \]

In the final expression, rounding \( 1.552823 \) up to the nearest tenth gives us \( 1.6 \).

So, the answer in the form \( a \times 10^n \) is:

\[ 1.6 \times 10^4 \]

If you need it in the specific format requested with \( a \) as a single digit (meaning simply in the format \( a \times 10^n \)), we equivalently express $15,528.23$ as:

\[ 1.6 \times 10^4 \]

Note: Under a further strict interpretation of "single digit" usually suggesting \( 1 \) as \( a \) and considering scientific notation, info confirms formatting in \( 2 \) decimal's regardless \( n \). Thus, no incorrect values typically addressing rather rounding values of \( 1\) will result when implying value categories for \( 10^4\).

So, let me know if specifications needed further adjustment or denote.