Math word problem for savings plan

[Ladybug101]

Hello! I am having trouble with this question. Please look at the image. I understand that I’m supposed to use the A = p *(1 + r/n) [(1 + r/n)n*y - 1] / (r/n) formula but I’m really stuck on this problem.

Here’s my work: $30,000=p*(1+0.55/12)^36/[(0.55/12)-1

 

[HallsofIvy]

You have a "[" with no corresponding "]".
I assume you mean 30,000=p*(1+0.55/12)^36/[(0.55/12)-1]
You understand, I hope, that this is just 30000= Ap for some number A so p= 30000/A.

To calculate A do the arithmetic:
0.55/12= 0.04583333... so 1+ 0.5/12= 1.04583333....
(0.55/12)^36= (1.0458333..)^36= 1255260948332470717506697

and 0.55/12- 1= 0,4583333...- 1= -0.541666...

p= 30000/A= -1255260948332470717506697(30000)/0.541666)