In the following equation, i represents the annual growth rate: $1(1 + i)10 = $2. The future value interest factor (FVIF) for i% in 10 years is (1 + i)10 , which is 1 plus i to the power 10. Compute i, using (1) step-by-step approach or (2) or formula approach. You may use a financial calculator or a Microsoft Excel spreadsheet.