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# Finance

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1.08^(1/12)=1+(q/12)

Guest Feb 21, 2017
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#1
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Solve for q:
1.00643 = q/12 + 1

Put each term in q/12 + 1 over the common denominator 12: q/12 + 1 = q/12 + 12/12:
1.00643 = q/12 + 12/12

q/12 + 12/12 = (q + 12)/12:
1.00643 = (q + 12)/12

1.00643 = (q + 12)/12 is equivalent to (q + 12)/12 = 1.00643:
(q + 12)/12 = 1.00643

Multiply both sides of (q + 12)/12 = 1.00643 by 12:
(12 (q + 12))/12 = 12×1.00643

(12 (q + 12))/12 = 12/12×(q + 12) = q + 12:
q + 12 = 12×1.00643

12×1.00643 = 12.0772:
q + 12 = 12.0772

Subtract 12 from both sides:
q + (12 - 12) = 12.0772 - 12

12 - 12 = 0:
q = 12.0772 - 12

12.0772 - 12 = 0.0772084:
Answer: |q = 0.0772084

Guest Feb 21, 2017
#2
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Scruffy23.  Feb 21, 2017
#3
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1.08^(1/12)=1+(q/12)

1.006434 = 1 + (q/12) subtract 1 from both sides.

0.006434 =q/12 cross multiply

q =0.077208......

Guest Feb 21, 2017

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