Find the savings plan balance after 6 months with an APR of 2% and monthly payments of $250
1 answer:
The savings plan balance is $2700
<u>Explanation:</u>
Given:
Time, t = 6 months
APR = 2%
Monthly payment, PMT = $250
Savings plan, A = ?
We know,
Substituting the value in the equation we get,
Therefore, the savings plan balance is $2700
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