Question 1177220
you can use the financial calculator at <a href = "" target = "_blank"></a> to solve this problem.


the procedure is as follows:


inputs for first pass.


pv = 0
fv = 0
np = 56
pmt = -330
ir = 6.2% / 12 = .516666666666...
payment at end of each time period.


click on fv and the calculator tells you that the future value is equal to 21,367.55.


inputs for second pass.


pv = -21367.55
fv = 0
np = 44
pmt = -330
ir  7.8% / 12 = .65
payment at end of each time period.


click on fv and the calculator tells you that the future value is equal to 45,162.67.


holly's balance right after her last contribution is 45,162.67.


the monthly remaining balance report from excel will show the same results.


the following displays show the inputs and outputs to the online financial calculator.


<img src = "http://theo.x10hosting.com/2021/031901.jpg" >


<img src = "http://theo.x10hosting.com/2021/031902.jpg" >


<img src = "http://theo.x10hosting.com/2021/031903.jpg" >


<img src = "http://theo.x10hosting.com/2021/031904.jpg" >


the following displays show excerpts from the output from the excel monthly remaining balance amounts.


<img src = "http://theo.x10hosting.com/2021/031905.jpg" >


<img src = "http://theo.x10hosting.com/2021/031906.jpg" >


<img src = "http://theo.x10hosting.com/2021/031907.jpg" >