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(Solved): If you deposited \( \$ 2,000 \) in a bank account 19 years ago, what is your account balance today ...




If you deposited \( \$ 2,000 \) in a bank account 19 years ago, what is your account balance today assuming you are paid an i
If you deposited \( \$ 2,000 \) in a bank account 19 years ago, what is your account balance today assuming you are paid an interest rate of 2 percent, compounded semiannually? Sample answer format: \[ 18.756 .98 \] Question 2 1 pts One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of \( \$ 500 \) per month. You will charge \( 1.5 \) percent per month interest on the overdue balance. If the current balance is \( \$ 18,000 \), how long (in months) will it take for the account to be paid off? Sample answer format: \( 15.68 \) Question 3 2 pts You want to buy a new sports coupe for \( \$ 60,500 \), and the finance office at the dealership has quoted you a \( 5.5 \) percent APR for a 48 -month loan to buy the car. What is your monthly payment on this auto loan? Sample answer format: \( 2,356.87 \)


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Question 1. Deposited amount (PV) = $2,000 No. of years = 19 ?No. of semi-annual periods (n) = 19*2 = 38 Semi-annual interest rate (r) = 2%/2 = 1% = 0
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