1. Jon took out a 13-year zero amortizing loan of $129,784 with an interest rate of 2.25% p.a. compounded daily. At the end of the 77th month, the balance of his loan equals $______.

2.You borrowed $500,000 using a 25-year, fully amortizing, constant amortizing loan. The interest rate is 5.5 % p.a. compounded monthly. The loan balance after you submit the 111-th monthly payment equals $ ____.