Solve for P P=(8000000(0.0575/12))/((1+0.0575/12)^(12*30)-1)

Math
P=8000000(0.057512)(1+0.057512)12⋅30-1
Combine 8000000 and 0.057512.
P=8000000⋅0.057512(1+0.057512)12⋅30-1
Simplify the denominator.
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Divide 0.0575 by 12.
P=8000000⋅0.057512(1+0.0047916‾)12⋅30-1
Add 1 and 0.0047916‾.
P=8000000⋅0.0575121.0047916‾12⋅30-1
Multiply 12 by 30.
P=8000000⋅0.0575121.0047916‾360-1
Raise 1.0047916‾ to the power of 360.
P=8000000⋅0.0575125.58944692-1
Subtract 1 from 5.58944692.
P=8000000⋅0.0575124.58944692
P=8000000⋅0.0575124.58944692
Reduce the expression by cancelling the common factors.
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Multiply 8000000 by 0.0575.
P=460000124.58944692
Cancel the common factor of 460000 and 12.
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Factor 4 out of 460000.
P=4(115000)124.58944692
Cancel the common factors.
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Factor 4 out of 12.
P=4⋅1150004⋅34.58944692
Cancel the common factor.
P=4⋅1150004⋅34.58944692
Rewrite the expression.
P=11500034.58944692
P=11500034.58944692
P=11500034.58944692
P=11500034.58944692
Multiply the numerator by the reciprocal of the denominator.
P=1150003⋅14.58944692
Divide 1 by 4.58944692.
P=1150003⋅0.21789117
Multiply 1150003⋅0.21789117.
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Combine 1150003 and 0.21789117.
P=115000⋅0.217891173
Multiply 115000 by 0.21789117.
P=25057.485546453
P=25057.485546453
Divide 25057.48554645 by 3.
P=8352.49518215
Solve for P P=(8000000(0.0575/12))/((1+0.0575/12)^(12*30)-1)

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