Solve 55,000(1+.16/2)^6

$$55,000 ( 1 + \frac { .16 } { 2 } ) ^ { 6 }$$

Evaluate

$$87278.08776192$$

Solution Steps

Expand \frac{0.16}{2} by multiplying both numerator and the denominator by 100.

$$55000\left(1+\frac{16}{200}\right)^{6}$$

Reduce the fraction \frac{16}{200} to lowest terms by extracting and canceling out 8.

$$55000\left(1+\frac{2}{25}\right)^{6}$$

Add 1 and \frac{2}{25} to get \frac{27}{25}.

$$55000\times \left(\frac{27}{25}\right)^{6}$$

Calculate \frac{27}{25} to the power of 6 and get \frac{387420489}{244140625}.

$$55000\times \frac{387420489}{244140625}$$

Multiply 55000 and \frac{387420489}{244140625} to get \frac{34093003032}{390625}.

$$\frac{34093003032}{390625}$$

Factor

$$\frac{11 \cdot 2 ^ {3} \cdot 3 ^ {18}}{5 ^ {8}} = 87278\frac{34282}{390625} = 87278.08776192$$