SOLUTION: It's a formula for Present Value Formula. I am trying to understand the operation of an exponent. my problem is this 50000(1.05)^-12 I am confused as to how the calculator got t

Question 703970: It's a formula for Present Value Formula.
I am trying to understand the operation of an exponent. my problem is this
50000(1.05)^-12
I am confused as to how the calculator got the answer of 0.556837418177559
I was wondering if there is a way for my to do this problem (1.05)^-12 (the numbers will change but this is the first number I came up with) if I have no calculator available.
As for the completion of my problem. In the end I need a higher interest in order to save the amount that I wanted but even though the interest changes, I would like to know if finding the numbers are possible without a calculator.
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
It's a formula for Present Value Formula.
I am trying to understand the operation of an exponent. my problem is this
50000(1.05)^-12
I am confused as to how the calculator got the answer of 0.556837418177559
I was wondering if there is a way for my to do this problem (1.05)^-12 (the numbers will change but this is the first number I came up with) if I have no calculator available.
As for the completion of my problem. In the end I need a higher interest in order to save the amount that I wanted but even though the interest changes, I would like to know if finding the numbers are possible without a calculator.
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You can do it without a calculator, obviously people did before the advent of calculators.

Chances are you'll get tired of it before you're done.
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