1) A home buyer buys a house for

$2,323,000.

She pays 20% cash, and takes a fixed-rate mortgage for ten years at 7.55% APR. If she makes semi-monthly payments, which of the following is closest to each of her payment?

A.$13,250.91

B.$11,042.43

C.$12,146.67

D.$ 8,833.94

2) A riskfree, zerocoupon bond has 15 years to maturity. Which of the following is closest to the price per $100 of face value that the bond will trade at if the YTM is7%?

A.$32.68

B.$29.55

C.$36.24

D.$38.78