Doubt in fm calculation ipcc

CA Amisha (Practicing ) (161 Points)

14 October 2011  

 

Hi frnds..,

I hav a doubt in d calculation of time value of money..compound interest..

If  P= Rs.1, 00,000, N=1 yr, K=365 days i.e, compounded daily, i=6%  den,

Amount = 1, 00,000(1+6%/365)365 …,can u tel me how to calculate anything to d power of 365..?? the ans is

1, 06,013…pls help