8. For each applicant: 1) ii) Use the appropriate loan model to evaluate the applicant's information (for mortgage loans use information to check hurdles, for consumer loans calculate the score) Determine whether the loan should be granted (yes or no) and why (if no) For the consumer loan applicants, calculate what interest rate will be offered for the loan 111 Note that the process/rules are different for each type of loan, and that each applicant is applying for a specific type of loan. Fill in the blank values in the table provided in the Excel file. The first applicant (Phil Farmer) has been completed for you as an example. (40 pts) e Mortgage Loans Model: Calculate loan payments with 4% annual interest rate (you need to do this first and add to other loan payments to check the restrictions below). Remember you use Capital Recovery (CR) to calculate loan payments. Maximum loan size (hurdles) restricted such that: a) Mortgage Debt Payments 80,000 9 8 History Category Perfect 44 Past Due history 24 Bankruptcy Make loan up to 10% of annual income if Sci > 6 at an interest rate of: r = prime rate + (10 - Sci)%. e The current prime interest rate is 3.25%. 8. For each applicant: 1) ii) Use the appropriate loan model to evaluate the applicant's information (for mortgage loans use information to check hurdles, for consumer loans calculate the score) Determine whether the loan should be granted (yes or no) and why (if no) For the consumer loan applicants, calculate what interest rate will be offered for the loan 111 Note that the process/rules are different for each type of loan, and that each applicant is applying for a specific type of loan. Fill in the blank values in the table provided in the Excel file. The first applicant (Phil Farmer) has been completed for you as an example. (40 pts) e Mortgage Loans Model: Calculate loan payments with 4% annual interest rate (you need to do this first and add to other loan payments to check the restrictions below). Remember you use Capital Recovery (CR) to calculate loan payments. Maximum loan size (hurdles) restricted such that: a) Mortgage Debt Payments 80,000 9 8 History Category Perfect 44 Past Due history 24 Bankruptcy Make loan up to 10% of annual income if Sci > 6 at an interest rate of: r = prime rate + (10 - Sci)%. e The current prime interest rate is 3.25%