is your equation. Hope this helped! :)
11 3/8 would be the simplified version and 91/8 would be the other way.
Answer:
p=2982
Step-by-step explanation:
Rate of interest = 6 % p.a
No of year = 12
P.V = $ 25000
Installments (p) = ?
We know the formula of P.V annuity
P.V = P[ 1-(1+r)-n/r]
25000 = P[1-(1+0.06)-12/0.06]
P = 2982 will withdraw annuity
