## Answers

savings Plan formula, (NY) A = PMTX L (1+ APR) - 17 where a = The accumulated savings Plan balance PMT = regular payment (deposit) amount. APR a armual Percentage rate as a decimal) n is the number of payment periods a number of years. in PMT = $300 .. APRS =0.08 per year. .

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12x - 7 .: A = $ 300 x L → [(1.0066736-17 A = $300 X 6.667x103 > A = $300 x 0.04067 6.667 8103 → A = $300 X 6.10 → i. A = $1830 The balance is $1830.

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