Solve 1000{left(1+0.01/12right)}^12

$$1000 { \left(1+ \frac{ 0.01 }{ 12 } \right) }^{ 12 }$$

Evaluate

$$\frac{9005671244625365875414592252255054401}{8916100448256000000000000000000000}\approx 1010.045960887$$

Solution Steps

Expand \frac{0.01}{12} by multiplying both numerator and the denominator by 100.

$$1000\left(1+\frac{1}{1200}\right)^{12}$$

Add 1 and \frac{1}{1200} to get \frac{1201}{1200}.

$$1000\times \left(\frac{1201}{1200}\right)^{12}$$

Calculate \frac{1201}{1200} to the power of 12 and get \frac{9005671244625365875414592252255054401}{8916100448256000000000000000000000000}.

$$1000\times \frac{9005671244625365875414592252255054401}{8916100448256000000000000000000000000}$$

Multiply 1000 and \frac{9005671244625365875414592252255054401}{8916100448256000000000000000000000000} to get \frac{9005671244625365875414592252255054401}{8916100448256000000000000000000000}.

$$\frac{9005671244625365875414592252255054401}{8916100448256000000000000000000000}$$

Factor

$$\frac{1201 ^ {12}}{2 ^ {45} \cdot 3 ^ {12} \cdot 5 ^ {21}} = 1010\frac{4.097918868061945 \times 10^{32}}{8.916100448256 \times 10^{33}} = 1010.0459608871821$$