1. Derek borrows $324,738.00 to buy a house. He has a 30-year mortgage with a rate of 4.73%. After making 132.00 payments, how much does he owe on the mortgage?

2.Caspian Sea Drinks needs to raise $34.00 million by issuing bonds. It plans to issue a 16.00 year semi-annual pay bond that has a coupon rate of 5.00%. The yield to maturity on the bond is expected to be 4.78%. How many bonds must Caspian Sea issue? (Note: Your answer may not be a whole number. In reality, a company would not issue part of a bond.)