14 points] Home equity and balloon Ann would like to buy a house. It costs $2,500,000. Her downpayment will be $50,000. She will take out a mortgagefor the remainder. It will be a 30 year, fully amortizing, FRM, with constant monthly payments and monthly compounding, The annual interest rate is 4.50%. She will pay $5,000 in closing costs at origination. She will also pay 1.75% of the balance in buy-down points at origination. Annis pessimistic and forecasts house prices to fall by 0.5% every month. 12. [1 point) How much home equity will she have after10 years (120 months)? 13. [l point) How much home equity will she have after 29 years (348 months)? For questions 14 and 15, assume all is the same as above EXCEPT there is a $500,000 balloon due in 30 years (recalculate the mortgage payment accordingly) 14. (1 point] How muchhome equity will she have after10 years (120 months)? 15. 1 point) How much home equity will she have after 29 years (348 months)