Question

Find the savings plan balance after 18 months with an APR of 6% and monthly payments of $800. Assume an ordinary annuity.

Answer 1

If (and only if) I'm reading your question correctly, it asks how much money you will have saved if you pay in $800 per month for 18 months @ 6%. I assume you're learning financial math, combined with rules of exponents and logs. Could you possibly look through your learning materials and determine which of the several formulas, involving payments into savings, compounding, a time period (18 months or 1 1/2 years), is likeliest to give you A, the Amount you'll have at the end of your 18 months of $800 payments into your savings? I've forgotten the exact term used here, but you could look up "financial formulas" or "time value of money."

Answer 2

I do not have any learning materials. I have an online math class for algebra functions and date analysis that I am struggiling in big time and as much help is needed

Answer 3

You want to purchase a new car in 5 years and you anticipate the cost of the car to be $55,000. You are given an investment plan with a fixed APR of 6.2%, assuming that you make regular monthly deposits. How much should you deposit at the beginning of each month to reach your goal of $55,000 in 5 years? Round to the nearest cent.