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Chapter 3 Mathematics of Finance - page 13 / 20

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Barnett/Ziegler/Byleen Finite Mathematics 12e

13

Solution (continued)

Care must be taken to perform the correct order of operations.

1. enter 0.045 divided by 12

2. 1 + step 1 result

3. Raise answer to -180 power.

4. 1 – step 3 result

5. Take reciprocal (1/x) of step 4 result. Multiply by 0.045 and divide by 12.

5. Finally, multiply that result by 50,000 to obtain 382.50

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