In 2006, 67.7 million people subscribed to cable television. In 2013, that number had decreased to 56.7 million. Find the percen
1 answer:
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Answer: $7787.99
Step-by-step explanation:
We know that the formula to find the periodic payment on an annuity is given by :-
, where PV is the present value , r is the rate of interest ( in decimal ) and n is the number of payments.
Given : Present value : $36000
Rate of interest = 8%=0.08
Time period = 6 years
Then , the periodic payment will be :-
Hence, the payment size is $7787.99.