\end{align*}1.01 {240} \ approximate 10.8926 is calculated by a calculator.Step 2: Substitute data for calculation.
\end{align*}\begin{align*}Step 1: Review the formula of compound interest final value.
F&=(1 + 0.01)^{240}\\&=1.01^{240}\end{align*}
Strategy guide
12-14
Strategy guide
12-14
Strategy guide 12-14
Strategy guide 12-14