1. You buy a house for $50,000 today, paid 10 percent down, and financed $45,000 at 10 percent for 25 years, how much equal annual mortgage payments will you have to make?
A. $2,000
B. $3,249
C. $3,982
D. $4,258
E. $4,958
2. What is the present value of $1,000 received at the end of the 10th year from now if it is discounted at 10% annual interest rate with semi-annually compounding?
A. $149
B. $377
C. $386
D. $614