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Question: 2 points stereo inc sells a stereo system for 100...

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(2 points) Stereo Inc. sells a stereo system for $100 down and monthly payments of $90 for the next 5 years. If the effective period interest rate is 3.25% per month, find: a) The cost of the stereo. Answer $ b) The total amount of interest paid Answer = $

(2 points) Suppose that for retirement purposes, over the course of 23 years, you make monthly deposits of $400.00 into an account that pays an interest rate of 4.834% compounded monthly. After those 23 years, you then want to make a constant monthly withdrawals for 20 years. al Find the amount of money you have accumulated in the account over the first 23 years: Note: Your answers should have a dollar sign and be accurate to two decimal places)

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