1. Find the present value of an annuity that yields an income of $2000 at the end of each month for 10 years, assuming that the interest rate is 6% compounded monthly. 2. A 10-year bond is originally offered by the government at $1000 with an annual return of 7%. Assuming that the bond currently has 3 years left before redemption and that the prevailing interest rate is 8% compounded annually, calculate its present value.