# When using exponents the BA II Plus is returning incorrect answers, what am I doing wrong?

I am using the BA II Plus Texas Instruments calculator.

When I want to calculate an EAR for example, my calculation would be as follows:

(1 + r/m )^m -1 = EAR

So in my calculator, using 5 decimal places I press:

1 + ( .03 / 365 ) =


1.00008


Then without pressing anything else, I press:

y^x 365


Which gives me the answer of:

1.03045


This is the wrong answer since the correct answer to 1.00008^365 is actually 1.02963

Is there something wrong with my calculator? The operations seem to be exactly the same...