To approximate , you can directly input the expression into a calculator. When calculated, equals approximately 1.072. So, rounding that to three decimal places, you get .

This may remind you of the famous binomial expansion! When raising a binomial to a power, you can use the binomial theorem, which states that . For our example, with a = 1, b = 0.01, and n = 7, you can see how the expansion gives insight into how the approximation builds from each term.