Getting wrong result calculating EAR on HP Prime

[letrekk]

Hi all,

I'm new to the forum and I ended up here after searching on Google for 2 hours how to troubleshoot an issue with my Prime.

I'm trying to calculate an effective annual rate. I enter (1 + 0.1 / 12 ) ^ 12 - 1, and I get 0.1 (10%) as the result. This is inaccurate. The correct result is .1047130674 (approx 10.47%). I get this on both the Home and CAS modes.

Has anyone ran into the same issue? Is this an issue with my configuration or a known issue with the calculator?

I tried tweaking my settings for number format and simplification to no avail. I tried calling HP but they weren't able to help me. Any help will be very much appreciated.