Finite Math Examples

$15000 \cdot (\frac{0.03}{{(1 + 0.03)}^{12} - 1})$

Step 1

Simplify the denominator.

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Step 1.1

Add $1$ and $0.03$ .

$15000 \cdot \frac{0.03}{{1.03}^{12} - 1}$

Step 1.2

Raise $1.03$ to the power of $12$ .

$15000 \cdot \frac{0.03}{1.42576088 - 1}$

Step 1.3

Subtract $1$ from $1.42576088$ .

$15000 \cdot \frac{0.03}{0.42576088}$

Step 2

Simplify the expression.

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Step 2.1

Divide $0.03$ by $0.42576088$ .

$15000 \cdot 0.07046208$

Step 2.2

Multiply $15000$ by $0.07046208$ .

$1056.93128209$