I am struggling with the calculation for compound annual cost. The example i have in my workbook is as follows -
(1+ 3/100-3) ^ (365/60-30) - 1 ) x 100 = 44.86%
The part im really struggling with is the "to the power of"
I havent had to use this since school which is a very long time ago so not sure exactly how I use this on the calculator.
Any help and advice would be great.
(1+ 3/100-3) ^ (365/60-30) - 1 ) x 100 = 44.86%
The part im really struggling with is the "to the power of"
I havent had to use this since school which is a very long time ago so not sure exactly how I use this on the calculator.
Any help and advice would be great.