can someone please help me with question 24 and question 25

24 Regarding your condo, five years go by. The condo appreciated 3% each year. What is the value of your home equity? Regarding your condo, five years go by. The condo appreciated 3% each year. Interest rates are now 4.200%M). You refinance 80% of the market value in a new, 30yr mortgage. How much cash do you have left, after you pay off the old mortgage? 25 Computations Short Computations (15 questions, 10 points each) Pry close attention to Nominal interest rate compounding conventions XX (A) means Annual, XX (SA) means Semi Annual, XX (M) means Monthly Play close attention to answer format: 1 Answers that are will be to three decimal places 2 Answers that are cre input in Canvasos whole numbers de 10.152 is input as 10.152, not 0.102). 3 Answers that are dollars are the whole number, no decimals necessary 4 In no cose do you need to answer a question with a negative number, always just input answers as normal (*) numbers 11 12 What is the FV in three years of $500 deposited today Learning 2.5OXIAI 625. 7a 25 Compute the PV of a $10,000 payment you will receive 30 years from today, when the discount rate is B.OONESA? 993.77 oli +1%) OR Taso Go 13 You open a savings account that pays 5.50% (A). You invest $1,000 today and then add an additional deposit of $1,000 every year. What is it worth at the end of 5 years? 7004. 50 or 1588825 14 A deposit of $25,000 earns 6.00%[A) in the first year and 7.00%(A) in the second year and 8.00%) in the third year. What is the value of the deposit at the end of year 3? 30623.40 15 You open a savings account that puys 4.80% (M). What is the effective Annual Rate (EAR) of interest? Answer to three decimals. 4.9076 16 A loan is offered with quarterly payments and 8.25%(Q) percent APR What's the loan's effective annual rate (EAR? Answer to three decimals. 8. 509% 17 Consider a deposit of $10,000 made for 10 years earning 4.00%(A) interest. How much interest was earned due to compounding? In other words, what was the difference between compounded interest and simple interest. 802.44 18 Aunt Maude passes away and leaves you $200,000. You deposit it into the bank, and you add another $1,000 to the savings account every quarter. The account pays 2.00%(Q) interest. What is the value of the account after 12 years? 596.767.60 19 What's the present value, when interest rates are 10.00%(A) percent of a $1,000 payment made every year forever i.e. in perpetuityi? 10000 20 You deposit $5,000 into a savings account that is earning 5.00(A) today. At the end of year one, rates have changed, and now the account will earn 4.00%(A). You deposit another $5,000. What is the ending account balance at the end of year 2? 10,660 21 You have gotten married and just had a baby, Junior will go to college in 19 years. Today, college costs $15.000 per year. If tuition keeps rising by 5% per year, what will unor's first year of college cost, when he/she attends in 19 years? 37904.25 Regarding the previous problem (you got married, had a baby, college in 19 years). Today, college costs $15,000 per year. If tuition keeps rising by 5% per year, what will four years of college cost junior, in total? Hint: it's not just the answer from (21) times four... $67905 You would like to buy a $320,000 condo in downtown Colorado Springs. If the bank will require you to provide a 20% down payment, what will be the monthly payment on the 30yr mortgage, if the mortgage interest rate is 4.800XIM? 11343.14 24 Regarding your condo, five years go by. The condo appreciated 3% each year. What is the value of your home equity? 25 Regarding your condo, five years go by. The condo appreciated 3% each year. Interest rates are now 4.2004M). You refinance 80% of the market value in a new, 30yr mortgage. How much cash do you have left, after you pay off the old mortgage? 1