Find the savings plan balance after 18 months with an APR of 3​% and monthly payments of ​$200. Question content area bottom Part 1 The balance is ​$    enter your response here. ​(Do not round until the final answer. Then round to the nearest cent as​ needed.)

To find the balance of a savings plan after 18 months with an APR of 3% and monthly payments of $200, you can use the future value formula for an annuity. The formula is: \[ FV = P \times \frac{(1 + r)^n - 1}{r} \] where: - \( P \) is the monthly payment ($200), - \( r \) is the monthly interest rate (APR/12), and - \( n \) is the total number of payments (18 months). First, convert the annual percentage rate to a monthly rate: \[ r = \frac{3\%}{12} = 0.0025 \] Now plug in the values: \[ FV = 200 \times \frac{(1 + 0.0025)^{18} - 1}{0.0025} \] Calculating: \[ FV = 200 \times \frac{(1.0025)^{18} - 1}{0.0025} \] \[ = 200 \times \frac{1.04721 - 1}{0.0025} \] \[ = 200 \times \frac{0.04721}{0.0025} \] \[ = 200 \times 18.884 \] \[ = 3776.80 \] Thus, the balance after 18 months is approximately **$3776.80**.