*Show work please

10. Mr. Spend has accumulated credit card loans of $15,000 and is finding it difficult to make payments. His local bank has offered him a consolidation loan to payoff all the credit card loans. The loan calls for monthly payments for 10 years and has a nominal interest rate of 5.99% (APR). What will Mr. Spend's monthly payments be if he takes the loan? Credit Card Monthly Payment Visa 1 Visa 2 Visa 3 Master Card 1 Loan Amount $3,000 $5,000 $6,000 $1,000 $90 $120 $150 $20 11. 12. Mr. Carter is planning to buy a home and he expects to borrow $200,000 for that purpose. Currently 15-year mortgage loans are quoted at 5% (APR). He expects to make monthly payments towards the loan. Calculate his monthly payments. What will be the outstanding amount on the loan after making payments for 5 years? Given the following data, calculate the present value of the cash flows (ordinary annuity) in each case. Also calculate the present value of the cash flows (annuity due) in each case Payment Years Interest Rate Present Value $500 10 6% $1,200 20 7.5% $2,500 12 12% $750 7 10%