I do not believe this is correct, (I have been checking it), but here is my work and I hope it helps you to figure out the correct answer!
(It has been a bit since I've done this haha)
[Equation] [tex]A = d(\frac{(1+i)^{n}-1}{i})[/tex]
[Plug-In] [tex]152,000 = d(\frac{(1+0.045)^{168}-1}{0.045})[/tex]
() 4.5% -> 0.045
() 14 years * 12 = 168 months
This is where I loose confidence in it, just so you know:
[Addition] [tex]152,000 = d(\frac{(1.045)^{168}-1}{0.045})[/tex]
[Exponent of 168] [tex]152,000 = d(\frac{(1,627.56)-1}{0.045})[/tex]
[Subtract] [tex]152,000 = d(\frac{1,626.56}{0.045})[/tex]
[Divide] [tex]152,000= 36,145d[/tex]
[Divide Again] d = 4.2
(which doesn't sound right to me haha, 4 * 12 = 48 * 14 =672)
Have a nice day!
I know this is not exactly what you are looking for and I am sorry, wanted to share with you what I had! (ノ^∇^)
- Heather
