1. Find the monthly mortgage payment for a 30-year loan with an amount of $500,000 at 4.75% for 30 years.

2. An investment requires an initial capital outlay of $12,000. The investment is expected to generate future cash flows of $1,000 one year hence, $2000 two years hence, $3,000 three years hence, $4,000 four years hence, $5,000 five years hence. Assume a 10% cost of capital.