SATMathematics Practice Test 1

Since the right-hand side of the equation is P times the expression $\frac{\left(\frac{\mathit{r}}{1,200}\right){\left(1+\frac{\mathit{r}}{1,200}\right)}^{\mathit{N}}}{{\left(1+\frac{\mathit{r}}{1,200}\right)}^{\mathit{N}}-1},$
multiplying both sides of the equation by the reciprocal of this expression results in $\frac{{\left(1+\frac{\mathit{r}}{1,200}\right)}^{\mathit{N}}-1}{\left(\frac{\mathit{r}}{1,200}\right){\left(1+\frac{\mathit{r}}{1,200}\right)}^{\mathit{N}}}\mathit{m}=\mathit{P}$
Choices A, C, and D are incorrect and are likely the result of conceptual or computation errors while trying to solve for P.