Part III. Show some work in some questions. Partial credit possible for Q 15, 17, 18. {11 points total} 15. {3 points} Ann got a 30 year FRM with annual payments equal to $12,000. After 2 years of payments Ann will refinance the balance into a 28-year FRM with annual payments equal to $10,000. Refinancing will cost Ann $5,500. Ann will prepay the new loan 3 years after refinancing. She will save $4,000 on her loan balance when she prepays. Find the Net Present Value for Ann's refinancing decision if her annual discount rate is 10%. Write the Net Present Value formula for Ann's refinancing decision. Plug all of the numbers into the formula Write only your final answer (one formula), not intermediate calculations, on the FIRST page. W! 16. {2 point} Find IRR for Ann's refinancing decision in Q15. Write only your final answer (one number) on the FIRST page. Hint: you will need a financial calculator. Part III. Show some work in some questions. Partial credit possible for Q 15, 17, 18. {11 points total} 15. {3 points} Ann got a 30 year FRM with annual payments equal to $12,000. After 2 years of payments Ann will refinance the balance into a 28-year FRM with annual payments equal to $10,000. Refinancing will cost Ann $5,500. Ann will prepay the new loan 3 years after refinancing. She will save $4,000 on her loan balance when she prepays. Find the Net Present Value for Ann's refinancing decision if her annual discount rate is 10%. Write the Net Present Value formula for Ann's refinancing decision. Plug all of the numbers into the formula Write only your final answer (one formula), not intermediate calculations, on the FIRST page. W! 16. {2 point} Find IRR for Ann's refinancing decision in Q15. Write only your final answer (one number) on the FIRST page. Hint: you will need a financial calculator