Please read the questions carefully. Please draw the cash flow diagrams and explain the steps that you are going to approach to solve the problems then solve the problem. Show the details in solving the problems. Missing Cash Flow' Diagram is deductible points equal to 20% of the total points for each question. John Zoom who plans to graduate in May purchased a new set of wheels to impress the young ladies (It did not work!) last May 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 40th 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 1,1991, and has made all payments since on schedule. John's Uncle has just offered to pay John's loan balance on June 1,1992, 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 this all happens, what amount will John's Uncle pay? Paul Purchased a new television and VCR on September 1, 1990, for $1,200 and used his father's MasterCard to pay for it. His father agreed to allow Paul to use the card based on his paying the balance within one year. The nominal interest rate on the card is 24% compounded monthly and requires equal monthly payments. After six months of paving for these purchases Paul decided, on March 1,1991, that he also could purchase a stereo for $800. Paul's father still insisted that Paul pay the total balance within one year from the date of the first purchase Assume that the new purchase is to be immediately applied to the unpaid balance and Paul made the payment due at the end of March before purchasing the stereo What is the amount payments for the first six months and the amount of the payments for the first six months and the amount of the payments for the second six months? Use standard consumer loan calculations