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 ) =
This give me the answer:
Then without pressing anything else, I press:
Which gives me the answer of:
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...