1) Five years ago you took out a 30- year mortgage with an APR of 8.10% for $186,000. If you were to refinance the mortgage today for 20 years at an APR of 5.85%, how much would you save in total interest expense? A) $225,354 B) $56,339 C) $169,016 D) S112,677 2) If the current inflation rate is 2.7%, then the nominal rate necessary for you to earn a(n) 6.0% real interest rate on your investment is closest to A) 14.2% 2) B) 10.6% C) 12.4% D) 8.9% 3) Consider a zero- coupon bond with $100 face value and 15 years to maturity. If the YTM is 4.6%, this bond will trade at a price closest to A) $81.50 3) B) $50.94 C) S71.31 D) $61.12 4) A bond has three years to maturity, a $1000 face value, and a 5.8% coupon rate with annual coupons. What is its yield to maturity if it is currently trading at $907.29? 4) A) 13.29% C) 11.39% B) 7.60% D) 9.49%