1. Eight years ago you took out a $ 300,000, 20-year mortgage with an annual interest rate of 6 percent and monthly payments of $2 comma 149.29

2,149.29. What is the outstanding balance on your current loan if you just make the 96th payment?

2.Selma and Patty Bouvier are twins and both work at the Springfield DMV. Selma and Patty Bouvier decide to save forretirement, which is 35 years away. They'll both receive an annual return of 7 percent on their investment over the next 35 years. Selma invests $1,500 per year at the end of each year only for the first 10 years of the35-year period total of $15,000 saved. Pattydoesn't start saving for 10 years and then saves $1,500 per year at the end of each year for the remaining 25 years for a total of $37,500 saved. How much will each of them have when theyretire?

a.How much will Selma have when sheretires?

(Round to the nearestcent.)

b.How much will Patty have when sheretires?