Answer:
Step-by-step explanation:
Given:
- A = 44000
- i = 0.375% or 0.00375
- n = 12*12 = 144 (12 years and 12 periods per year)
- d = ?
Use the given formula and find d:
- [tex]44000 = d(\frac{(1+0.00375)^{144}-1}{0.00375})[/tex]
- [tex]44000 = d*190.47[/tex]
- [tex]d = 44000/190.47[/tex]
- [tex]d = 231[/tex]
