1. A $75,000 mortgage is obtained at 9%. It should be paid in 20 years. Find the payment at the start of each month.
2. Herb is a self-employed agent who is setting his own retirement fund. He is depositing $17,000 a year for the next 20 years. How much will he be able to collect for his retirement given that his retirement fund bears 11% interest compounded semiannually?