1.Looking for present value of receiving an annuity payment of $200 per year for 10 years, first payment beginning today (t = 0), assuming an annual interest rate of 6%?

2. What is the price of a 15 year maturity bond with a 13 percent coupon rate and quarterly coupon payments? The stated yield to maturity of the bond is 8 percent and the face value is $1000.