Problem 6-16 Calculating Future Values [LO1] What is the future value of $2,700 in 20 years assuming an interest rate of 8 percent compounded semiannually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value You are planning to make monthly deposits of $360 into a retirement account that pays 8 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 25 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value You want to buy a new sports coupe for $76,500, and the finance office at the dealership has quoted you an APR of 5.8 percent for a 72 month loan to buy the car. a. What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the effective annual rate on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Monthly payment b. Effective annual rate One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $750 per month. You will charge 1.9 percent per month interest on the overdue balance. If the current balance is $18,000, how long will it take for the account to be paid off? (DO not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Months for account to be paid off