1. A house is to be purchased for $181,800 with a 10% down payment, thereby financing $163,620 with a home loan and mortgage. There are no points or other closing charges associated with the loan. A conventional 30-year loan is used at 7.5%, resulting in monthly payments of $1,144.06. The interest portion of the first monthly payment will be what?

2. A $200,000 bond having a bond rate of 5% payable annually is purchased for $180,000 and kept for 4 years, at which time it is sold. How much should it sell for in order to yield a 5% effective annual return on the investment?