24. Ir Duke Nukem wants to fund a scholarship that would pay $12,500 per year forever at GSU, how much must Duke deposit today if he wants the scholarship to start paying seven (7) years from today? Assume the endowment will earn 6.5% p.a. interest forever. 25. You currently owe $20,000 on a car loan at 8.25 percent interest. If you make monthly payments of $596.59 per month, how long (i.e., number of months rounded to one decimal place) will it take you to fully repay the loan? 26. It is now January 1. Kratos plans to make 5 deposits of $300 each, one every 6 months, with the first payment being made exactly six months from today. If the bank pays a nominal interest rate of 12% but uses semiannual compounding, how much will be in Kratos' account exactly 15 years from today? 27. You must make a payment of $3,800 exactly 8 years from today. To prepare for this payment, you will make 5 equal deposits into an account that pays a nominal interest rate of 7.6% p.a., with quarterly compounding. If your first deposit is made today and then you make four additional deposits in each of the next four quarters - that is, a deposit 3 months from today, another 6 months from today and so on), what must each of the 5 payments be for you to exactly achieve your goal? USE THE INFORMATION BELOW TO ANSWER THE FOLLOWING THREE QUESTIONS Vito Scaletta just bought his dream car, 2014 Aston Martin DB9 that cost S208.700. He paid $35.000 down and financed the balance over 84 months at 6.25% pa. (Assume that Vito makes all required payments on time). 28. What is the monthly payment on Vito's loan? 29. What will the balance on Vito's loan be at the end of the fourth year (that is, immediately after Vito makes his 48 payment on the loan)