6. You are the beneficiary of a trust set up by your grandparents. You will receive your first $2,000 cash ten years from now (T=10) when you turn age 30. To cover the cost of inflation, these cash flows will grow at 3.0% per year in perpetuity. Assume the appropriate discount rate is 5.0% per annum. What is the present value of this perpetuity today (T=0)? a. $29,764 b. $30,657 c. $72.242 d. $74,409 e. $76,642 7. Today is January 15, 2020 (T=0). You take out a 30 year fully amortizing mortgage of $400,000. Payments are made at the end of each calendar month. The loan has a fixed annual rate of 4.0% (or 4.0%/12 per month). How payments will you have to make until you have at least $300,000 of equity in your home? a. 32 b. 33 c. 109 d. 110 e. 111