SOLUTION: 110,000 (1 + .03)^ 5 S = ??? I keep getting 126,500 when it should be 127,520.15.

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: 110,000 (1 + .03)^ 5 S = ??? I keep getting 126,500 when it should be 127,520.15.       Log On


   

Question 85578: 110,000 (1 + .03)^ 5
S = ???
I keep getting 126,500 when it should be 127,520.15.
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
110000+%281+%2B+.03%29%5E+5

110000+%281.03%29%5E+5 Add

110000+%281.1592740743%29 Raise to the fifth power

127520.148 Multiply

So when rounded to the nearest hundredths you get

110000+%281+%2B+.03%29%5E+5=127520.15