PLEASE ANS ALL QUESTIONS FOR THUMBS UP. WOULD REALLY APPRECIATE

Ques 1

Audrey has recently purchased a home with a $325,000 mortgage. She opted for monthly payments, a term of 5 years at a rate of 3.2%, and an amortization period of 25 years. Had Audrey chosen, instead, an accelerated bi-weekly payment, how much interest would she save over the life of the mortgage? Hint: You will need to determine the number of accelerated bi-weekly payments would be required to pay off the mortgage. Round to the nearest dollar.

1. $146,477
2. $127,959
3. $19,420
4. $18,518

Ques 2

Which statement is false?

1. If you expect interest rates to rise, you would prefer a fixed-rate over a variable-rate mortgage.
2. You are likely to be charged a lower interest rate on an insured mortgage than a conventional mortgage.
3. On-reserve land is often the property of the First Nation, thus individuals can only mortgage and own the home.
4. The premium on CMHC mortgage loan insurance is maxed at 4.5% for traditional down payments.

Ques 3

Isla, a conservative money manager, has a liquidity ratio of 9 months and current ratio of 5. Why is this not ideal?

1. Isla has insufficient liquidity to meet unexpected expenses.
2. Isla has excess liquidity, likely earning a low return.
3. Isla should maintain her liquidity in the form of a line of credit.
4. Isla has not been able to establish the minimum emergency fund.