Finite Math Examples

$\frac{850000 (\frac{0.06}{12})}{{(1 + \frac{0.06}{12})}^{12 (40)} - 1}$

Step 1

Combine $850000$ and $\frac{0.06}{12}$ .

$\frac{\frac{850000 \cdot 0.06}{12}}{{(1 + \frac{0.06}{12})}^{12 (40)} - 1}$

Step 2

Simplify the denominator.

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Step 2.1

Divide $0.06$ by $12$ .

$\frac{\frac{850000 \cdot 0.06}{12}}{{(1 + 0.005)}^{12 (40)} - 1}$

Step 2.2

Add $1$ and $0.005$ .

$\frac{\frac{850000 \cdot 0.06}{12}}{{1.005}^{12 (40)} - 1}$

Step 2.3

Multiply $12$ by $40$ .

$\frac{\frac{850000 \cdot 0.06}{12}}{{1.005}^{480} - 1}$

Step 2.4

Raise $1.005$ to the power of $480$ .

$\frac{\frac{850000 \cdot 0.06}{12}}{10.95745367 - 1}$

Step 2.5

Subtract $1$ from $10.95745367$ .

$\frac{\frac{850000 \cdot 0.06}{12}}{9.95745367}$

Step 3

Simplify the expression.

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Step 3.1

Multiply $850000$ by $0.06$ .

$\frac{\frac{51000}{12}}{9.95745367}$

Step 3.2

Divide $51000$ by $12$ .

$\frac{4250}{9.95745367}$

Step 3.3

Divide $4250$ by $9.95745367$ .

$426.81594513$