Solve 42,000(1+5.5%)^5

$$42,000 ( 1 + 5.5 \% ) ^ { 5 }$$

Evaluate

$$54892.32026919375$$

Solution Steps

Expand \frac{5.5}{100} by multiplying both numerator and the denominator by 10.

$$42000\left(1+\frac{55}{1000}\right)^{5}$$

Reduce the fraction \frac{55}{1000} to lowest terms by extracting and canceling out 5.

$$42000\left(1+\frac{11}{200}\right)^{5}$$

Add 1 and \frac{11}{200} to get \frac{211}{200}.

$$42000\times \left(\frac{211}{200}\right)^{5}$$

Calculate \frac{211}{200} to the power of 5 and get \frac{418227202051}{320000000000}.

$$42000\times \frac{418227202051}{320000000000}$$

Multiply 42000 and \frac{418227202051}{320000000000} to get \frac{8782771243071}{160000000}.

$$\frac{8782771243071}{160000000}$$

Factor

$$\frac{3 \cdot 7 \cdot 211 ^ {5}}{2 ^ {11} \cdot 5 ^ {7}} = 54892\frac{51243071}{160000000} = 54892.32026919375$$