Trouble calc'ing exponents

CFA Level I Quant
#1

I’m having a rough time accurately calculating exponents. I’m using BA2 Plus. I understand the yX button for exponents. I understand order of operations. WolframAlpha shows accurate answer so it’s not a mistake. Can’t figure out how to get $500,000. See example below.

The answer is $500,000.

*E X A M P L E Accounts subject to different tax treatments. Assume that $100,000 is invested in each of four accounts: 1. An account taxed annually (accrual taxes; FVIFAT) … Calculate the after-tax value of each account in 30 years, if each account earns 9% annually and all investment income and returns are taxed at 35%. Answer: FVIFat = $100,000[1 + 0.09(1 – 0.35)]^30 = $550,000

Thanks in advance for your help. So simple yet very frustrating!

-j

#2

If $500.000 is correct answer, I 'd say part of question details are missing. You might be asked to calculate an accrual equivalent after tax return with overall effective tax rate. Check again.

#3

$100,000[1 + 0.09(1 – 0.35)]^30 = $550,000

^that’s the correct formula and answer. I just can’t figure out why I’m not getting that answer on my BAII Plus…

-j

#4

0.09 (0.65)+1 = 1.0585 ^30 = 5.5046 x $100.000 = $550.460.

#5

slightly different answer than Wolfram Alpha and the Kaplan Textbook…

https://www.wolframalpha.com/input/?i=$100,000%5B1+%2B+0.09(1+%E2%80%93+0.35)%5D%5E30

#6

If you know the answer, why you asked? Use Wolfram Alpha.

#7

Sorry for being unclear. I can’t solve for $550,000 on my calculator. I’m doing the wrong steps it seems.

-j