Solve y=20000{left(1+0.2/6right)}^12

$$y = 20000 { \left(1+ \frac{ 0.2 }{ 6 } \right) }^{ 12 }$$

Solve for y

$$y = \frac{787662783788549761}{26572050000000} = 29642\frac{14077688549760}{26572050000000} \approx 29642.529793093$$

Steps for Solving Linear Equation

Expand \frac{0.2}{6} by multiplying both numerator and the denominator by 10.

$$y=20000\left(1+\frac{2}{60}\right)^{12}$$

Reduce the fraction \frac{2}{60} to lowest terms by extracting and canceling out 2.

$$y=20000\left(1+\frac{1}{30}\right)^{12}$$

Add 1 and \frac{1}{30} to get \frac{31}{30}.

$$y=20000\times \left(\frac{31}{30}\right)^{12}$$

Calculate \frac{31}{30} to the power of 12 and get \frac{787662783788549761}{531441000000000000}.

$$y=20000\times \frac{787662783788549761}{531441000000000000}$$

Multiply 20000 and \frac{787662783788549761}{531441000000000000} to get \frac{787662783788549761}{26572050000000}.

$$y=\frac{787662783788549761}{26572050000000}$$

Assign y

$$y≔\frac{787662783788549761}{26572050000000}$$