octaviaspates8 octaviaspates8

22-04-2020
Mathematics

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Find the savings plan balance after 18 months with an APR of 2% and monthly payments of $200.
The balance is $ 1
(Do not round until the final answer. Then round to the nearest cent as needed.)

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boogland boogland

22-04-2020

Answer:

$800 [((1.005)18 - 1)/.005]

$800 x [(1.0939 - 1)/.005]

$800 x (0.0939/0.005)

$800 x 18.785

~ $15,028

The savings plan is 15,028.

Step-by-step explanation:

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