As an expert in pricing financial derivatives, your friend, John, approached you seeking a professional advice on the fair price of the European style call and put option on the FTSE 100 index. The following data relate to the FTSE 100 index. 

Current price: 7125 

Dividend Yield: 2.95% 

Volatility: 13.25%

The risk-free rate of interest is 1%. 

Required:

1) Estimate the value of a European exercise call option on the index with an exercise price of 7100 and 100 days to run.  

2) Estimate the value of a European exercise put option on the index with the same exercise price and expiry date