31. Find the unpaid balance on the debt. (Round your answer to the nearest cent.)

After6years of monthly payments on$140,000at5%for 25 years.

$

32. The super prize in a contest is $10 million. This prize will be paid out in equal yearly payments over the next20years. If the prize money is guaranteed by AAA bonds yielding6%and is placed into an escrow account when the contest is announced 1 year before the first payment, how much do the contest sponsors have to deposit in the escrow account? (Round your answer to the nearest cent.)

$

33. Just before his first attempt at bungee jumping, John decides to buy a life insurance policy. His annual income at age 30 is$38,000, so he figures he should get enough insurance to provide his wife and new baby with that amount each year for the next 35 years. If the long-term interest rate is6.7%, what is the present value of John's future annual earnings? (Round your answer to the nearest cent.)

$

Rounding up to the next $50,000, how much life insurance should he buy? (Round your original answer to the nearest $50,000.)

$

34. A MasterCard statement shows a balance of$580at13.8%compounded monthly. What monthly payment will pay off this debt in 1 year5months? (Round your answer to the nearest cent.)

$