Solve 1000{left(1+0.08/12right)}^12

$$1000 { \left(1+ \frac{ 0.08 }{ 12 } \right) }^{ 12 }$$

Evaluate

$$\frac{140515219945627518837736801}{129746337890625000000000}\approx 1082.999506808$$

Solution Steps

Expand \frac{0.08}{12} by multiplying both numerator and the denominator by 100.

$$1000\left(1+\frac{8}{1200}\right)^{12}$$

Reduce the fraction \frac{8}{1200} to lowest terms by extracting and canceling out 8.

$$1000\left(1+\frac{1}{150}\right)^{12}$$

Add 1 and \frac{1}{150} to get \frac{151}{150}.

$$1000\times \left(\frac{151}{150}\right)^{12}$$

Calculate \frac{151}{150} to the power of 12 and get \frac{140515219945627518837736801}{129746337890625000000000000}.

$$1000\times \frac{140515219945627518837736801}{129746337890625000000000000}$$

Multiply 1000 and \frac{140515219945627518837736801}{129746337890625000000000000} to get \frac{140515219945627518837736801}{129746337890625000000000}.

$$\frac{140515219945627518837736801}{129746337890625000000000}$$

Factor

$$\frac{151 ^ {12}}{2 ^ {9} \cdot 3 ^ {12} \cdot 5 ^ {21}} = 1082\frac{1.296823479712749 \times 10^{23}}{1.29746337890625 \times 10^{23}} = 1082.999506807511$$