Question

Can someone please help me finish this equation, I keep getting a negative. Please give step by step

Answer 1

Answer:

Explanation about the mistake below

Step-by-step explanation:

Formulas

Sometimes the smallest error in the formula leads us to wrong and senseless results.

The formula you are trying is a well-known formula to compute financial variables. Let me write you down the correct formula

$\displaystyle P=d\cdot \frac{1-(1+r/k)^{-nk}}{r/k}$

You can check the mistake in the exponent of the parentheses. If we apply this formula with your numbers, we get

$\displaystyle 1836=d\cdot \frac{1-(1+0.085/12)^{-12}}{0.085/12}$

$1836=d\cdot 11.47$

Solving for d

d=160.14