Solve for y y=(1+0.12/12)^12-1

Math
y=(1+0.1212)12-1
Simplify each term.
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Divide 0.12 by 12.
y=(1+0.01)12-1
Add 1 and 0.01.
y=1.0112-1
Raise 1.01 to the power of 12.
y=1.12682503-1
y=1.12682503-1
Subtract 1 from 1.12682503.
y=0.12682503
Solve for y y=(1+0.12/12)^12-1

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