Problem squaring on calculator: $19K at 9% comp. for 9 yrs

[charlesjoy]

For the life of me, I am unable to square a number on my calculator. Can you assist me on this problem?

Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.

$19,000 at 9% compounded semiannually for 9 yr.

A=P(1=.09/2)^18 = A=19,000 (1.045)^18 = 19,000 ( this is where I got stuck)

 

[skeeter]

Re: Problem squaring on calculator

For the life of me, I am unable to square a number on my calculator. Can you assist me on this problem?

Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.

$19,000 at 9% compounded semiannually for 9 yr.

A=P(1=.09/2)^18 = A=19,000 (1.045)^18 = 19,000 ( this is where I got stuck)

you're not "squaring" a number ... you're raising 1.045 to the 18th power.

your calculator should have an exponentiation key or function. reference your owner's manual and find out how it works.

 

[charlesjoy]

Re: Problem squaring on calculator

I found it. Thank you very much.