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Please help due today!!!!
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41 votes
41 votes
Please help due today!!!!

Please help due today!!!!-example-1
User Dhysong
by
2.9k points

1 Answer

17 votes
17 votes

Answer:

  • $516

Explanation:

Given:

  • A = $36000
  • i = 6% or 0.06
  • n = 5*12 = 60 (5 years with 12 periods each)
  • d = ?

Use the given formula and find d:


  • A=d(((1+0.06/12)^(60)-1)/(0.06/12))

  • 36000=d*69.77

  • d=36000/69.77

  • d =516
User Robert Wills
by
2.3k points
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