You have contracted to buy a house for $521,250, paying $104,250 as a down payment. You will get a fully amortizing mortgage for the balance at a 3.60% annual interest rate for 30 years. How much dollar interest will you pay in the first month's mortgage payment? (Round to the nearest whole dollar and enter without a dollar sign, e.g., enter $2000 as 2000).

2. Ms. Coulter's daughter Lyra was born today. Ms. Coulter wants to buy Lyra a compass made of gold when Lyra turns 10 years old. The compass currently costs $50,000, and the price of the compass will increase by 2.5% per year for the next 10 years. Suppose she can earn interest at a stated annual rate of 10% per year. How much should she save every month (constant amount) over the next 10 years to be able to buy the compass, assuming she starts saving today? Round to the nearest dollar and enter your answer without the dollar sign, e.g., enter $32.16 as 32.

3. GM issued a 15 year BBB bond one year ago at par of $100. The bond pays semi-annual coupons at an annual coupon rate of 2.5%. Since the bond was issued, yields on similar BBB bonds have increased by three percentage points. What is the current yield today on GM's bond? Write answer to 2 decimal places without the percentage sign, e.g., write 5.75 for 5.75%.

4. The Powerball lottery offers you two payout options. Under option A, you receive $200 million today. Under option B, you receive $10 million a year from now. Then, every year thereafter, the annual payout will grow by 5% until year 25, when payouts will cease. The appropriate discount rate is 6%. If you win, how much more valuable is option B than option A today? Round to the nearest million dollars and enter your answer without the dollar sign, e.g., enter $32.16 million as 32.

5. A firm has gross fixed assets of $10,000, accumulated depreciation of $2000, cash on hand of $500, inventories of $1500, and total liabilities and shareholders' equity of $12,000. Total asset turnover is 0.5. What must days in accounts receivable be? Round to the nearest whole number, e.g., enter 32.16 as 32