Reference no: EM131769925

A. Robin, who is self-employed, contributes $6500/year into a Keogh account. How much will he have in the account after 20 years if the account earns interest at the rate of 5.5%/year compounded yearly? (Round your answer to the nearest cent.)

B Lupé made a down payment of $8000 toward 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 of 8%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of $410/month for 36 months. What is the cash price of the car? (Round your answer to the nearest cent.)