Question

Find the savings plan balance after 9 months with an APR of 12% and monthly payments of $300. Assume an ordinary annuity.

Answer 1

I believe your answer is c i had the same question and i got it right.

Answer 2

Future value of ordinary annuity is
AFVO=C[((1+r/m)^(mn)-1)/(r/m)]
AFVO=300[((1+0.12/12)^(12)-1/(0.12/12)]
AFVO=2810.56