The value of \( 1.02^3 \) is calculated as:

\[
1.02^3 = 1.02 \times 1.02 \times 1.02 = 1.061208
\]

So, \( 1.02^3 \approx 1.0612 \).

Would you like a more detailed explanation or have any further questions?

Here are 5 related questions:
1. What is \( 1.02^4 \)?
2. How do you calculate the cube of a number manually?
3. What is the approximate value of \( 1.03^3 \)?
4. Can you express \( 1.02^3 \) in exponential form with logarithms?
5. How would the value of \( 1.02^3 \) change if rounded to fewer decimal places?

**Tip:** When dealing with small growth rates, raising a number slightly above 1 to higher powers can represent compound interest or exponential growth over time.

Learn how to calculate the value of 1.02 raised to the power of 3 (1.02^3) with detailed step-by-step instructions. This problem covers key concepts of exponential functions, suitable for students in Grades 8-10.

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