Question

A formula is given, along with the values of M = P * (1 + i) ^ n : P=\$320 , i = 0.21 21. n = 10 all but one of the variables in the formula Find the value of the variable that is not given M=\$ Box (Round to the nearest cent as needed.)

Answer 1

To find the value of the variable that is not given, which is M, replace each variable for each of the given values. Then, solve.

`\begin{gathered} M=P(1+i)^n \\ M=320(1+0.21)^(10) \\ M=2152.80 \end{gathered}`

The value of the variable M is 2152.80.