Is there any short cut to take out the answer of this-200,000[1+(4/100)]^5=? , without using a calculator,and keeping in mind that there are hardly 30seconds to solve it.

Question

Is there any short cut to take out the answer of this->200,000[1+(4/100)]^5=?  , without using a calculator,and keeping in mind that there are hardly 30seconds to solve it.

anonymous · Answer

First: Is this some sort of interest formula you're using? Second: Not really. Type fast.

anonymous · Answer

200000(1+1/5)=200000+40000=240000
check my math, i did it mentally

anonymous · Answer

@jm92: u forgot da power'5' 
sqiggy is there any way you can suggest to work out higher powers fastly??

anonymous · Answer

and def. manually

anonymous · Answer

Working out a decimal to the fifth power without using a calculator just takes a lot of time. A suggestion could be to just change the (1+4/100) to (26/25)^5.

anonymous · Answer

so what about solving it with that big power?

anonymous · Answer

You can't avoid that.

anonymous · Answer

ok.thanx :)

anonymous · Answer

that is the compound interest formula
A=P(1+r/n)^(nt)
A= total amount
P= principal or starting amount
r=rate as a decimal
n= number of compunding periods per year
t=number of years