College Algebra (10th Edition)

by Sullivan, Michael

Published by Pearson

ISBN 10: 0321979478

ISBN 13: 978-0-32197-947-6

Chapter 6 - Section 6.3 - Exponential Functions - 6.3 Assess Your Understanding - Page 434: 20

Answer

$\approx 1.196$

Work Step by Step

Use a calculator to evaluate the expression, and then round-off the answer to three decimal places: $\left(1+\frac{0.09}{12}\right)^{24}=1.0075^{24} \approx 1.196$

Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.