Nari knows the following two commands in Excel:PMT(rate, nper, PV, FV)FV(rate, nper, pmt, PV)Nari is using the Quantitative Reasoning Process to make a plan to save money for her first car. She has 6500 Yuan saved so far and plans to save 180 Yuan per month for the next 3 years. If she can save with an annual interest rate of 1.7%, which of the following commands will give Ingrid the final balance after 3 years?Group of answer choices=PMT(1.7/12,3*12,-6500,-180)=FV(1.7,3,-6500,0)=FV(0.017/12,3*12,-180,0)=FV(0.017/12,3*12,-180,-6500)=PMT(0.017/12,3,-6500,-180)

The correct command to calculate the final balance after 3 years is =FV(0.017/12,3*12,-180,-6500).

Here's why:

1. The FV function is used to calculate the future value of an investment. In this case, Nari wants to know how much she will have saved after 3 years, so the FV function is the correct one to use.

2. The rate is the interest rate per period. Since the interest rate is given annually (1.7%) and the savings are made monthly, we need to divide the annual rate by 12 to get the monthly rate. Hence, 0.017/12.

3. The nper is the total number of payment periods in an investment. Nari plans to save for 3 years, and since she's saving monthly, the total number of periods is 3 years times 12 months, which is 3*12.

4. The pmt is the payment made each period; it must be entered as a negative number. Nari plans to save 180 Yuan per month, so this is -180.

5. The PV is the present value, or the lump-sum amount that a series of future payments is worth right now. Nari has already saved 6500 Yuan, so this is -6500 (entered as a negative because it's an outgoing payment).

So, putting all these together, the correct command is =FV(0.017/12,3*12,-180,-6500).

The correct command to calculate the final balance after 3 years is =FV(0.017/12,3*12,-180,-6500).

Here's why:

The FV function in Excel is used to calculate the future value of an investment. The parameters for the FV function are:

• rate: the interest rate per period.
• nper: the total number of payment periods.
• pmt: the payment made each period.
• PV: the present value, or the lump-sum amount that a series of future payments is worth right now.

In this case, Nari is saving 180 Yuan per month for the next 3 years, so the rate is the annual interest rate divided by 12 (to get the monthly rate), nper is 3 years times 12 (to get the total number of months), pmt is -180 (the amount she saves each month, entered as a negative number because it's an outgoing payment), and PV is -6500 (the amount she has saved so far, also entered as a negative number because it's an outgoing payment).

So, the correct command is =FV(0.017/12,3*12,-180,-6500).

The correct command to calculate the final balance after 3 years is =FV(0.017/12,3*12,-180,-6500).

Here's why:

1. The FV function is used to calculate the future value of an investment. In this case, Nari wants to know how much she will have saved after 3 years, so the FV function is the correct one to use.

2. The rate is the interest rate per period. Since the interest rate is given annually (1.7%) and the savings are made monthly, we need to divide the annual rate by 12 to get the monthly rate. Hence, 0.017/12.

3. The nper is the total number of payment periods in an investment. Nari plans to save for 3 years and since she is saving monthly, the total number of periods is 3 years times 12 months, which is 3*12.

4. The pmt is the payment made each period and it must be entered as a negative number. Nari plans to save 180 Yuan per month, so this is -180.

5. The PV is the present value, or the lump-sum amount that a series of future payments is worth right now. Nari has already saved 6500 Yuan, so this is -6500 (entered as a negative because it's an outgoing payment).

So, the correct command is =FV(0.017/12,3*12,-180,-6500).