1. John Bullock would like to put away money for a 12% down payment on a house that will cost $250,000,000 during the next eight years. How much money should John deposit quarterly in an account paying 4.75% annual interest rate so he can have his down payment in eight years?
2. On January 2001, a company takes a $28,000,000 Loan to purchase an apartment complex. The loan is to be financed over 6 years at an interest rate of 5.25% payable every six months.
   1. What is the periodic payment on the loan?
   2. What is the total amount of interest paid after two years?
   3. How much of the Principal amount of the loan is yet unpaid?

Please answer all the questions. Thanks