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 made all required payments for the last 8 years (i.e., for the first 96 payment periods of the loan), what is the 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 secure financing from her credit union for a 60-month loan with a 5.99 percent annual rate, compounded monthly. Jill has saved up $1500 that she will use as a down payment on the car she plans to purchase, which has a final "drive out" price of $33,400 (excluding the down payment). If the first payment on Jill Valentine's loan (i.c., the "drive out" price minus her down payment) is due exactly one month after she buys the car, how much will that amount be? 38. Lady Dimitrescu just agreed to a new loan to purchase a $3,280 computer. The loan has a 22.6% annual interest rate, compounded monthly. The minimum monthly payment is $80, and Lady Dimitrescu does not expect to ever pay more than the minimum payment. Assuming no additional charges or costs will occur with this loan, how much will Lady Dimitrescu still owe on the loan (if anything) exactly 36 months from today (when she expects she will need to purchase another new computer)? 39. For $250,000 today, Laura Croft can purchase an ordinary annuity which will pay her $25,000.00 per year for each of the next 15 years (first payment to be received exactly 1 years from today). What is the annual interest rate implicit in this investment? Round your answer to the nearest tenth (for example, record 0.4325 as 43.3% - but do not include the percent sign in iCollege. 40. Nathan Drake is considering borrowing $10,000,000 for 25 years with a loan that has an interest rate of 6.85% p.a. The loan agreement calls for 25 equal annual payments, to be paid at the end of each of the next 25 years (first payment due exactly one year from today). Assuming that Nathan makes the required payment every year for the next 6 years, how much of the sixth payment will go to interest? 41. Cloud Strife is going to deposit $175,000 into a certificate of deposit (CD) at a 3.249% annual rate (compounded annually) with a maturity of 75 months. How much money will Cloud receive when the CD matures? 42. Over Dina's objections, Ellie is evaluating an investment that will provide the following end-of-year cash flows: Year 1 Cash Flow $11,500 2 $15,000 3 $18,000 4 $22,500 5 $27,000 6 7 SO $35,000 If Ellie believes that she should earn an annual rate of 14.9 percent on this investment, how much should Ellie pay for this investment? 43. Marcus Holloway has $15,000 that he will use as a down payment on a new car. Assuming that Marcus can afford a payment of $875 per month, how much can Marcus spend on a car (that is, what is the total cost of the car that Marcus can purchase) if the interest rate is 5.15% and if he will finance his purchase with a 6-year, monthly payment loan? 44. 44. Suppose Link deposits $15,000 into an account earning 7.285 percent interest, compounded monthly. How many years (rounded to one decimal place -for example, 32.1843 year 32.2) will it take for Link's account to be worth $50,000