Question

$450,000/1.07^2What doe the 1.07 ^ 2 mean?

Answer 1

`(450,000)/(1.07^(2))=393,047.43`

Explanation:

1.07 ^ 2 means that the number 1.07 is squared, then divide $450,000 by 1.07 squared:

`(450000)/(1.07^2)=393,047.43`