29-30 both xx

29. A woman has bought a house and makes mortgage payments of $400 every two-weeks for 25 years. If the mortgage interest rate is j2=7%, what is the size of her original mortgage loan? (nearest dollar) (A) $123,927 (B) $120,104 (C) $117,713 (D) $114,382 30. An endowment fund is set up today. It provides payments of $2000 a year forever (first payment one year from now). The interest rate is j1=8% for the first year and j1=6% each year thereafter. How much is needed to be deposited (invested) today? (answer to nearest dollar) (A) $30,864 (B) $35,333 (C) $32,716 (D) $36,145