Solve for y 3000=(0.02y)/((1+0.02)^20-1)

Math
3000=0.02y(1+0.02)20-1
Rewrite the equation as 0.02y(1+0.02)20-1=3000.
0.02y(1+0.02)20-1=3000
Multiply both sides of the equation by (1+0.02)20-10.02.
(1+0.02)20-10.02⋅0.02y(1+0.02)20-1=(1+0.02)20-10.02⋅3000
Simplify both sides of the equation.
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Simplify (1+0.02)20-10.02⋅0.02y(1+0.02)20-1.
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Simplify the numerator.
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Add 1 and 0.02.
1.0220-10.02⋅0.02y(1+0.02)20-1=(1+0.02)20-10.02⋅3000
Raise 1.02 to the power of 20.
1.48594739-10.02⋅0.02y(1+0.02)20-1=(1+0.02)20-10.02⋅3000
Subtract 1 from 1.48594739.
0.485947390.02⋅0.02y(1+0.02)20-1=(1+0.02)20-10.02⋅3000
0.485947390.02⋅0.02y(1+0.02)20-1=(1+0.02)20-10.02⋅3000
Simplify the denominator.
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Add 1 and 0.02.
0.485947390.02⋅0.02y1.0220-1=(1+0.02)20-10.02⋅3000
Raise 1.02 to the power of 20.
0.485947390.02⋅0.02y1.48594739-1=(1+0.02)20-10.02⋅3000
Subtract 1 from 1.48594739.
0.485947390.02⋅0.02y0.48594739=(1+0.02)20-10.02⋅3000
0.485947390.02⋅0.02y0.48594739=(1+0.02)20-10.02⋅3000
Reduce the expression by cancelling the common factors.
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Cancel the common factor of 0.48594739.
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Cancel the common factor.
0.485947390.02⋅0.02y0.48594739=(1+0.02)20-10.02⋅3000
Rewrite the expression.
10.02⋅(0.02y)=(1+0.02)20-10.02⋅3000
10.02⋅(0.02y)=(1+0.02)20-10.02⋅3000
Cancel the common factor of 0.02.
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Factor 0.02 out of 0.02y.
10.02⋅(0.02(y))=(1+0.02)20-10.02⋅3000
Cancel the common factor.
10.02⋅(0.02y)=(1+0.02)20-10.02⋅3000
Rewrite the expression.
y=(1+0.02)20-10.02⋅3000
y=(1+0.02)20-10.02⋅3000
y=(1+0.02)20-10.02⋅3000
y=(1+0.02)20-10.02⋅3000
Simplify (1+0.02)20-10.02⋅3000.
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Simplify the numerator.
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Add 1 and 0.02.
y=1.0220-10.02⋅3000
Raise 1.02 to the power of 20.
y=1.48594739-10.02⋅3000
Subtract 1 from 1.48594739.
y=0.485947390.02⋅3000
y=0.485947390.02⋅3000
Reduce the expression by cancelling the common factors.
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Cancel the common factor of 3000.
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Factor 3000 out of 0.02.
y=0.485947393000(0.000006‾)⋅3000
Cancel the common factor.
y=0.485947393000⋅0.000006‾⋅3000
Rewrite the expression.
y=0.485947390.000006‾
y=0.485947390.000006‾
Divide 0.48594739 by 0.000006‾.
y=72892.10939675
y=72892.10939675
y=72892.10939675
y=72892.10939675
Solve for y 3000=(0.02y)/((1+0.02)^20-1)

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