part d

Please view the following video before answering this question. Video Solution: 02.07-PRO18 Click here to access the TVM Factor Table Calculator You borrow $2,000 from Gougo's, a well-known loan consolidation outfit. The loan is an "unbelievably low" 2.0% per month compounded monthly. You have 2 years to pay back the loan. Part a Your answer is correct. What is the nominal annual interest rate? 24 % Round entry to one decimal place. Tolerance is +2. Attempts: 1 of 3 used Part b Your answer is correct. What is the effective annual interest rate? 26.82 % Round entry to one decimal place. Tolerance is +2. Attempts: 1 of 3 used Part c Your answer is correct. If you wait until the end of year 2 to pay it off in one lump sum, how much must you pay? Use the "period interest rate" approach. $ 3217 Round entry to the nearest dollar. Tolerance is +4. If you wait until the end of year 2 to pay it off in one lump sum, how much must you pay? Use the "effective interest rate" approach. $ Round entry to the nearest dollar. Tolerance is +4. Save for Later Attempts: 0 of 3 used Submit Answer Parte The parts of this question must be completed in order. This part will be available when you complete the part above. Partf The parts of this question must be completed in order. This part will be available when you complete the part above