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Mazyrski [523]
3 years ago
5

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

Mathematics
1 answer:
Galina-37 [17]3 years ago
8 0

Answer:

<em>Explanation about the mistake below</em>

Step-by-step explanation:

<u>Formulas</u>

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

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