Your disk is almost full Save space by optimizing it You would like to purchase a house in 5 years. You expect the house to cost $625,000. Since you will be a first-time homebuyer, you can obtain a mortgage with only a 5% down payment. How much money you need to save in 5 years? $31,250 None of the options listed $593,750 $37,500 $625,000 You have purchased a semi-detached home for $480,000 and put forth a down payment of $100,000. How much cumulative interest have you paid on the mortgage after 2 years if the amortization period is 25 years and the nominal interest rate is 3.25%? Assume that interest is compounded semi- annually and payments are made monthly None of the options listed $12,119 $23,909 5070 $2,042