Answer:
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:
- [tex]A=d(\frac{(1+0.06/12)^{60}-1}{0.06/12})[/tex]
- [tex]36000=d*69.77[/tex]
- [tex]d=36000/69.77[/tex]
- [tex]d =516[/tex]
