1) First, solve the problem below. You should be very familiar with this one.: You are taking out a mortgage on a single-family home currently valued at $500,000. Based on your credit score, your annual interest rate is 7% (monthly rate will be 7%/12.). Suppose no down payment. If you can make a monthly payment of $2,500 (including interest + toward the principal amount), how many monthly payments will you have to make to finally pay it all off? (Ignore taxes and associated fees, for simplicity). Assume that payments are made at the end of every month. +2 points: Please submit your keystrokes (careful about the sign). 2) Are you getting an error on your calculator? Why do you think you're getting an error? Please put some thoughts into this. Try changing the numbers in the problem to come up with a reason. +3 points. Show your work. 3) Help me search online if there's any mathematical or intuitive reason for why calculators or formulas for PVA (present value of annuities) are not able to solve this problem. +5 points. You will only receive points if you find something. 4) Extra extra points. Is there a way to solve this question? Is this an impossible