Question 15 7 pts If you invest $400 every six months at 6 percent compounded semi-annually, how much would you accumulate at the end of 12 years? $19,323 $14,136 $13,771 $15, 874 Question 16 7 pts You decide to borrow $425000 to build a new home. The bank charges an interest rate of 5% compounded monthly If you pay back the loan over 30 years, what will your monthly payments be (rounded to the nearest dollar)? $3,082 $1,983 $2,186 o $2,281 Question 17 7 pts You charged $4200 on your credit card for holiday gifts. Your credit card company charges you 8% annual interest, compounded monthly. If you make the minimum payments of $65 per month, how long will it take (to the nearest month) to pay off your balance? 78 months 85 months 72 months 84 months D Question 12 7 pts If Mariana deposits $2,000 into a bank account that pays 4% interest compounded semi-annually, what will her account balance be in five years? Round to nearest dollar. 2,400 o 2,438 o 1,480 o 10,833 o 2,433 D Question 13 5 pts An investment offers to pay you 10% over the next year You expect inflation to be 2.5% over that same year. How much will your purchasing power increase if you make this investment? 12.5% 9.04% 7.12% 7.50% 7.32% Question 14 7 pts Given that nominal interest rates are 8% and the inflation rate is 300, about how much do you need to invest today to have the equivalent of $100,000 in 2010 dollars left over in 40 years? (There may be some rounding here.) o $21,460 $14,090 o $6,650 o $15,040