Answer:
Explanation about the mistake below
Step-by-step 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
[tex]\displaystyle P=d\cdot \frac{1-(1+r/k)^{-nk}}{r/k}[/tex]
You can check the mistake in the exponent of the parentheses. If we apply this formula with your numbers, we get
[tex]\displaystyle 1836=d\cdot \frac{1-(1+0.085/12)^{-12}}{0.085/12}[/tex]
[tex]1836=d\cdot 11.47[/tex]
Solving for d
d=160.14
