You put $200 at the end of each month in an investment plan that pays an APR of 4.5%. How much will you have after 18 years? Compare this amount to the total deposits made over the time period.

Because deposits are made at the end of each month, use the future value formula for an ordinary annuity: $200 × [((1 + 0.045/12)^216 − 1)/(0.045/12)] ≈ $66,373.60. There are 18 × 12 = 216 deposits, so the total amount deposited is 216 × $200 = $43,200. Choice D gives both amounts.

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