40. John Zoom, who plans to graduate in May 2008, purchased a new set of wheels to impress the young ladies (it did not work!) in May of 2007 when he got a good summer job. After making a down payment, John borrowed $9,000 at 12% interest with monthly compounding to pay for the car. The loan was to be repaid by making 39 equal monthly payments and a single balloon payment at the end of the 40" month. The amount of each of the equal monthly payments was determined by finding the exact amount of a 40-month equal payment series and rounding this amount up to the next highest multiple of $5.00. John made his first monthly payment on June 1, 2007 and has made all payments since then on schedule. John's uncle has just offered to pay John's loan balance on June 1, 2008 If John earns a 4-point GPA this semester and graduates in May as scheduled and keeps on making his monthly payments. Forget the fact that John is taking Engineering Economics, and assume that he will get the 4-point! If all this happens, what amount will John's uncle pay