find the savings plan balance after 15 months with an APR of 14% and monthly payments of $150 The balance is $_____ (do not round until the final answer. Then round to the nearest cent as needed.) Solution PV= PMT *[(1+i)^n - 1] / [i*(1+i)^n] i = 14% / 12 = 1.1667% = 0.011667 PV= 150 *[(1+0.011667)^15 - 1] / [0.011667*(1+0.011667)^15] PV = 2053.19.........(answer).