Chapter $3$ Homework $($PF$)$ i

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Problem $3-11$ Future Value of Reduced Spending $[$LO$3-4](2)$

$2$ Brenda plans to reduce her spending by $$110$ a month. Calculate the future value of this increase in savings over the next $8$ points years. $($Assume an annual deposit to her savings account, and an annual interest rate of $8$ percent.$)($Exhibit $1-$A$,$ Exhibit $1-$B$,$ Exhibit $1-$C$,$ Exhibit $1-$D$)$

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Note: Use appropriate factor$($s$)$ from the tables provided. Round time value factor to $3$ decimal places and final answer to $2$ decimal places.

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