The APR = 4% coincides with a .04/12 = .003333 monthly interest rate
So, the total after 15 month is 200( (1.003316-1.00333) )/(.00333) = 15.406
Therefore, the total sum = 200(15.406) = $3,081.26
Amy W.
asked • 07/06/19Find the savings plan balance after 15 months with an APR of 4% and monthly payments of $200.
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