16. If the yearly assessment is $1,500.00 and is increased by 20%, how much would the new quarterly payments be? 17. What would the annual budget be on the following? A homeowners assoication with 50 homes paying assessments of $500.00 per year. 18. If a homeowner is late after 30 days and the penalty is 18% interest annually. Calculate the interest for one month on a balance of $958.25