need help with both

Theresa and Raul purchased a house 10 years ago for $220,000. They nade a down payment of 20% of the purchase price and secured a 30 year conventional home mortgage at 4.5% per year compounded monthly on the unpaid balance. The house is now worth $280,000. How much equity do Teresa and Raul have in their house now? Use the TVM solver on your calculator to evaluate. Enter your final answer in the box. Round your answer to two decimal places. (Do not include units in your answer.) Question 2 5 pts Emon is securing a 7-year balloon mortgage for $320,000 to finance the purchase of his first home. The monthly payments are based on a 30 year amortization. If the interest rate is 2.7% per year compounded monthly, what will be his balloon payment at the end of the 7 years? Use the TVM solver on your calculator to evaluate. Enter your final answer in the box. Round your answer to two decimal places. (Do not include units in your answer.)