For bonds, assume coupons paid semi-annually, coupon rates and yields quoted with semi-annual compounding, and redeemable at par unless otherwise noted (Ignore it if it's not relevant to the question).

1. An investor puts $10,000 into a fund at the beginning of the year. At the June, the investor has $12,500 in the fund and withdraws $2500. The fund value at the end of the year is $9,500. What is the dollar-weighted return to the investor and what is time-weighted return of the fund?

2. An infrastructure project calls for contributions of $100,000 initially and $20,000 at the end of the first two years and then delivers payouts of of $50,000 at the end of the next four years. What is the NPV at a 10% rate?