1: Dandus Corp. issues $5 million in bonds on January 1, 2021. The bonds have a stated interest rate of 4%, and mature in 6 years. Interest is paid semiannually, starting on July 1, 2021. The market rate of interest for these bonds is 8% per year. How much will Dandus receive when it sells these bonds? Use semiannual compounding.

2: From the age 25 to 64 , Lyla contributes $1,000 into her retirement fund. She also receives a $96,000 inheritance on her 39th birthday, and contributes that to the fund as well.

If the fund earns interest at 8% compounded annually, how much is in it on lyla's 65th birthday?