SOLUTION: 15,000=P(1+.023/12)^(12*5.5) I keep getting the wrong answer, please explain step by step. Thank you

Algebra ->  Finance -> SOLUTION: 15,000=P(1+.023/12)^(12*5.5) I keep getting the wrong answer, please explain step by step. Thank you      Log On


   

Question 1072465: 15,000=P(1+.023/12)^(12*5.5) I keep getting the wrong answer, please explain step by step. Thank you
Found 2 solutions by josgarithmetic, MathTherapy:
Answer by josgarithmetic(39621) About Me  (Show Source):
You can put this solution on YOUR website!
This might not be the way you are expected to do, but

15000=P%281.001916666%29%5E66

15000%2F%281.001916666%29%5E66=P

P=15000%2F1.134712

P=13219

Answer by MathTherapy(10555) About Me  (Show Source):
You can put this solution on YOUR website!

15,000=P(1+.023/12)^(12*5.5) I keep getting the wrong answer, please explain step by step. Thank you
Don't you think you need to share your INCORRECT answer so someone can tell you where you're going wrong?