simplify (1+(0.01)/2)^2-1
Let's reduce: (1 + 0.012)2 -1
ⅰ 0.012 = 0.005
(1 + 0.005)2 -1
ⓘ Parentheses are computed first: 1 + 0.005 = 1.005
1.0052 -1
ⓘ Powers are computed before multiplications, additions and subtractions. An integer power is a repeated product: 1.0052 = 1.005×1.005 = ≈ 1.0100
≈ 1.0100 -1
ⓘ Start from ≈ 1.0100 and move back 1 on the number line: ≈ 1.0100 -1 = 1.0025×10-2
▶Simplified form:   1.0025×10-2