Problem 9-57 (calculator table) Jim Thomas borrows $75,000 at 11 percent interest toward the purchase of a home. His mortgage is for 25 years. (Use a Financial calculator to arrive at the answers. Round your intermediate answers to nearest whole dollar. Round the final answers to the nearest whole dollar.) a. How much will his annual payments be? (Although home payments are usually on a monthly basis, we shall do our analysis on an annual basis for ease of computation. We get a reasonably accurate answer.) Annual payments b. How much interest will he pay over the life of the loan? (Do not round your intermediate calculations.) Amount of interest c. How much should he be willing to pay to get out of a 11 percent mortgage and into a 9 percent mortgage with 25 years remaining on the mortgage? Assume current interest rates are 9 percent. Carefully consider the time value of money. Disregard taxes. (Do not round your intermediate calculations.) Amount to be paid $