Question
A. Robin, who is self-employed, contributes $6500 /year into a Keogh account. How much will he have in the account after20yearsif the account earns interest
A. Robin, who is self-employed, contributes$6500/year into a Keogh account. How much will he have in the account after20yearsif the account earns interest at the rate of5.5%/year compounded yearly? (Round your answer to the nearest cent.)
_____ $
B Lupmade a down payment of$8000toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of8%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of$410/month for36months.What is the cash price of the car? (Round your answer to the nearest cent.)
_____ $
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