Question

Please help due today!!!!

Answer 1

Answer:

• $516

Step-by-step 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:

• $A=d(\frac{(1+0.06/12)^{60}-1}{0.06/12})$
• $36000=d*69.77$
• $d=36000/69.77$
• $d =516$