Super super simple formular and simple math but ????

For some reason that last formula is just escaping me. I must be doing something wrong on a really elementary math level because none of my answers are coming out right for this.

Anyone able to get the answer?

I'm not sure how that 5.5% ties in.

crystalshard: the 5.5 ends up being rounded up to 6%.

My problem is I'm not able to calculate out the effective periodic rate... because i just ??? can't ????

Aha. Found how they got the 5.5% rate. More sense is made now.

I think I'm doing something wrong, though, I keep coming up with negative answers.

crystalshard: negative answers for which part?

if the first part, you just divide 11 by 2

Yeah, that I got.

as for the second part ... i genuinely cannot calculate it to get the right answer

Okay, I'm coming up with 0.1667 as a final answer.

Does that sound about right?

nope. Its gotta be 0.8963

and I have no idea how that last formula gives you that

Hmmmm.

Is your calculator doing that thing where it forgets order of operations? I had one that could never take a fraction as a power.

I got .008963, which is probably right, idk, by using 1.055 in the initial formula and not 1.06.

I'm doing the order of operations manually.

And yeah, 1.055 makes much better sense.

That formula's very misleading if that's what they want you to do.

yorisearching: crystalshard: I've been doing the order of operations manually as well.

one sec, lemme try with 1.055

Use to the power of .1666666666666666666666666 instead of trying to divide by six in the middle.

yorisearching: nope, you were right. the formula is just wrong

(If you have a calculator that dumps everything and just divides like mine used to.)

that 6% should actually be the 5.5% from earlier

Hah. Math. Still sort of works.

crystalshard: yorisearching: Thanks guys! the formula was wrong, no wonder i was getting it incorrect

Glad to be of help!

it cuts down on so much frustration for me

when i have a solution and a formula but they don't work together

and you're spinning your wheels trying to find out why