Answer:
$ 2533.594
Step-by-step explanation:
The saving balance is found by the equation;
where P=monthly payments, i= interest rate n=period
Given ;
P= $250 n=9months and i=6%(0.04) per year, find savings balance?
Note than n is given in months so we divide the rate by 12 i.e
0.04/12 =0.003
Substitute values in the formulae;
SV= 250 × [((1+0.003)^9 - 1)/0.003)]