36. Exactly 9 years ago, Welham purchased a house with a $326,500, 20-year, monthly payment mortgage. The fixed interest

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36. Exactly 9 years ago, Welham purchased a house with a$326,500, 20-year, monthly payment mortgage.The fixed interest rate on his loan was 4.25% p.a. If Welham madeall required payments for the last 8years (i.e., for the first 96 payment periods of the loan), what isthe remaining balance on his loan today?
37. Upon graduation, Jill Valentine plans to purchase a new car.Jill believes that she will be able to securefinancing from her credit union for a 60-month loan with a 5.99percent annual rate, compoundedmonthly. Jill has saved up $1500 that she will use as a downpayment on the car she plans to purchase,which has a final “drive out” price of $33,400 (excluding the downpayment). If the first payment onJill Valentine’s loan (i.e., the “drive out” price minus her downpayment) is due exactly one month aftershe buys the car, how much will that amount be?
38. Lady Dimitrescu just agreed to a new loan to purchase a$3,820 computer. The loan has a 22.6% annualinterest rate, compounded monthly. The minimum monthly payment is$80, and Lady Dimitrescu doesnot expect to ever pay more than the minimum payment. Assuming noadditional charges or costs willoccur with this loan, how much will Lady Dimitrescu still owe onthe loan (if anything) exactly 36months from today (when she expects she will need to purchaseanother new computer)?
39. For $250,000 today, Laura Croft can purchase an ordinaryannuity which will pay her $25,000.00 peryear for each of the next 15 years (first payment to be receivedexactly 1 years from today). What is theannual interest rate implicit in this investment? Round your answerto the nearest tenth (for example,record 0.4325 as 43.3% - but do not include the percent sign iniCollege.
40. Nathan Drake is considering borrowing $10,000,000 for 25years with a loan that has an interest rateof 18.65% p.a. The loan agreement calls for 25 equal annualpayments, to be paid at the end of each ofthe next 25 years (first payment due exactly one year from today).Assuming that Nathan makes therequired payment every year for the next 6 years, how much of thesixth payment will go to interest?
41. Cloud Strife is going to deposit $175,000 into a certificateof deposit (CD) at a 3.99% annual rate(compounded annually) with a maturity of 75 months. How much moneywill Cloud receive when theCD matures?
42. Over Dina’s objections, Ellie is evaluating an investmentthat will provide the following end-of-yearcash flows:Year Cash Flow1 $11,5002 $15,0003 $18,0004 $22,5005 $27,0006 $07 $35,000If Ellie believes that she should earn an annual rate of 14.9percent on this investment, how much shouldEllie pay for this investment?
43. Marcus Holloway has $15,000 that he will use as a downpayment on a new car. Assuming that Marcuscan afford a payment of $875 per month, how much can Marcus spendon a car (that is, what is thetotal cost of the car that Marcus can purchase) if the interestrate is 5.5% and if he will finance hispurchase with a 6-year, monthly payment loan?
44. 44. Suppose Link deposits $135,000 into an account earning7.285 percent interest, compoundedmonthly. How many years (rounded to one decimal place – forexample, 32.1843 year = 32.2) will ittake for Link ‘s account to be worth $50,000?