Question

Please help due today!!!!

Answer 1

• $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`