Question

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

Answer 1

Explanation about the mistake below

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 (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 (1-(1+0.085/12)^(-12))/(0.085/12)`

`1836=d\cdot 11.47`

Solving for d

d=160.14