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.
To find the amount $15,528.23 in the form of a×10^n, we need to round it to the nearest place value and express it in scientific notation.
Rounding $15,528.23 to the nearest place value, we get $15,528.
Now, we express $15,528 in the form of a×10^n:
$15,528 = 1.5528 × 10^4
Therefore, the amount $15,528.23 can be expressed as 1.5528 × 10^4.