Subjects algebra

Compound Growth 21B19B

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1. **State the problem:** Calculate the value of $$A=801324000(1+0.15)^{10}$$. 2. **Formula used:** This is a compound interest formula where $$A=P(1+r)^n$$, with $$P=801324000$$, $$r=0.15$$, and $$n=10$$. 3. **Calculate inside the parentheses:** $$1+0.15=1.15$$. 4. **Calculate the power:** $$1.15^{10}$$. 5. **Evaluate $$1.15^{10}$$:** Using a calculator or approximation, $$1.15^{10} \approx 4.045557\$. 6. **Multiply by the principal:** $$A=801324000 \times 4.045557 \approx 3241760000$$. 7. **Final answer:** $$A \approx 3241760000$$. This means after 10 periods at 15% growth, the amount grows to approximately 3241760000.