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Chapter 5 1. What is the Present value of the following cash flows? Period Cash Flow 500 750 500 -250 4 Given a discount rate of 7.5% what is the PV of these cash flows? 2. You are ready to buy a house and you have $25,000 for a down payment and closing costs. Closing costs are estimated to be 4% of the loan value. You have an annual salary of $40,000. The bank is willing to allow your monthly mortgage payment to be equal to 28% of your monthly . income. The interest rate on the loan is 6% per year with monthly compounding (.5% per month) for a 30-year fixed rate loan. How much money will the bank loan you? How much can you offer for the house