You're posts sound a little confused to it's hard to offer much.I assume by "compute" you mean "find a decimal approximation". In this sense, computing real exponentiation [itex]a^b[/itex] is not a problem. It can be done straightforwardly from
[tex]a^b = e^{b \ln a}[/tex]
The logarithm is easy to compute because
[tex]\ln (m \cdot 2^n) = \ln m + n \ln 2[/tex]
Nothing in the right hand side poses difficulty.
The taylor series for [itex]y = e^x[/itex] is really good, so it's only a problem to compute if x has large magnitude. (And if it's negative, it's only a problem if "zero" is not accurate enough of an answer)
But Newton's method comes to our rescue: we use it to find a root of [itex]f(y) = \ln x - y[/itex] (this root will satisfy [itex]y = e^x[/itex]).
This works by starting with, say, [itex]y_0=1[/itex] and iterating:
[tex]y_{n+1} = y_n (1 + x - \ln y_n)[/tex]
For negative x, though, you need to start with a [itex]y_0[/itex] near zero.
People have done a
lot of work on methods for quickly and accurately computing classical functions like logarithms and exponentials. I assume it shouldn't be too hard to find materials on the topic via google search...