Solve 500(1+.031)^48

$$500 ( 1 + .031 ) ^ { 48 }$$

Evaluate

$$2164.6412884777521512657575031059032979905332235274852627382250933502076232862563558996355882282121875953691719119875538427610055691164456639683205$$

Solution Steps

Add 1 and 0.031 to get 1.031.

$$500\times 1.031^{48}$$

Calculate 1.031 to the power of 48 and get 4.329282576955504302531515006211806595981066447054970525476450186700415246572512711799271176456424375190738343823975107685522011138232891327936641.

$$500\times 4.329282576955504302531515006211806595981066447054970525476450186700415246572512711799271176456424375190738343823975107685522011138232891327936641$$

Multiply 500 and 4.329282576955504302531515006211806595981066447054970525476450186700415246572512711799271176456424375190738343823975107685522011138232891327936641 to get 2164.6412884777521512657575031059032979905332235274852627382250933502076232862563558996355882282121875953691719119875538427610055691164456639683205.

$$2164.6412884777521512657575031059032979905332235274852627382250933502076232862563558996355882282121875953691719119875538427610055691164456639683205$$

Factor

$$\frac{1031 ^ {48}}{2 ^ {142} \cdot 5 ^ {141}} = 2164\frac{1.2825769555044444 \times 10^{141}}{2 \times 10^{141}} = 2164.6412884777524$$