A machine can lift a weight of 10 kg on the first day. The weight it can lift increases by 20 percent each day. How much weight can the machine lift on the fifth day? Round your answer to two decimal places. (1 point)
On the second day, the machine can lift 10 kg * 1.20 = 12 kg
On the third day, the machine can lift 12 kg * 1.20 = 14.4 kg
On the fourth day, the machine can lift 14.4 kg * 1.20 = 17.28 kg
On the fifth day, the machine can lift 17.28 kg * 1.20 = 20.74 kg
Therefore, the machine can lift 20.74 kg on the fifth day.