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.

Answer 1

To express the amount $15,528.23 in the form \( a \times 10^n \), we first need to convert it into scientific notation.

1. Identify the first significant digit: In this case, the first significant digit of 15,528.23 is 1.

2. Move the decimal point to create a number between 1 and 10: \[ 15,528.23 = 1.552823 \times 10^4 \] (The decimal is moved four places to the left.)

3. Now, we round \( 1.552823 \) to one decimal place, which gives us \( 1.6 \).

Thus, \( 15,528.23 \) can be expressed as: \[ 1.6 \times 10^4 \]

So, the final answer is: \[ \boxed{1.6 \times 10^4} \]