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2(2.2)(3.0) + 2(2.2)(7.5) + 2(7.5)(3.0)
13.2 33 45
Theres the work the answer is (4) 91.2
The saving plan balance is $3,677.53.
Given that,
- The no of months is 18.
- The annual percentage rate is 3% so the monthly rate percentage is 0.25%.
- And, the monthly payment is $200.
Based on the above information, the following formula should be used:
FVA = PMT× [(1+r)^n - 1] ÷ r
= $200 × [(1+ 0.0025)^18 - 1] ÷ 0.0025
= $3,677.53
Therefore we can conclude that the saving plan balance is $3,677.53.
Learn more: brainly.com/question/14191332
