1. A household buys a house for $435,000. It finances the purchase with an 85% loan-to-value loan. The loan is a 25 year fully-amortized loan at a fixed-rate of 7.10%. What are the monthly repayments? a) $2,468.45 b) $2,636.95 c) $2,792.07 d) $3,102.29 2. Based on the loan in question 1 , who much is the outstanding principal after 2 years? a) $394,241.67 b) $362,538.10 c) $358,201.19 d) $338,106.59 3. What are the monthly repayments on a 20 year Interest Only loan for $375,000 at an interest rate of 6.50% ? a) $1,875.46 b) $2,335.29 c) $2,031.25 d) $1,944.84