Ann would like to buy a house. It costs $2,500,000. Her down payment will be $50,000. She will take out a mortgage for 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. Ann is pessimistic and forecasts house prices to fall by 0.5% every month. 5. How much home equity will she have after 10 years (120 months)? 6. How much home equity will she have after 29 years (348 months)?