1:Consider a European call option with strike price 100, time to expiration of 3 months. Assume the risk free rate is 5% compounded continuously. If the underlying is at price $100 and has volatility of 30%, what is the delta of the option? (Calculate your answer to the nearest hundredth.)

2: Consider a European call option with strike price 100, underlying price of 98, time to expiration of 3 months, and risk free rate of 5% (compounded continuously). The stock does not pay a dividend. If the call premium is $5.51, what is the implied volatility? (Hint: Use excel to calculate the Black-Scholes formula and then adjust the volatility to find the implied volatility.)