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Next, carefully simplify the equation and calculate the final value of R rounding to the nearest cent. 0.115 $19,000 12 R = 1

Needing step by step instructions on how to simplify this problem.
I am having problems using pemdas and getting an answer through a scientific calculator.

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Answer #1

Simplifying the problem we will solve the Numerater and Denominator seperately

Numerator = (0.115/12)*$19,000 = 182.0833

In Denominator we will solve 2 parts seperately

FIrstly considering the 2nd part = (12/(12+0.115))^(12*35) = 0.018209

Subtracting 2nd part from 1st part = 1 -0.018209 = 0.9818

Now combining Numerator and Denominator

182.0833/ 0.9818 = 185.45

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