12. From the previous question, if you chose to not refinance and keep the same financing in place, which of the following statements would be TRUE:

a. After five years, your total mortgage payments for the year would be lower

b. After five years, your total mortgage payments for the year would be the same

c. After five years, the amount of interest you were paying each year would be lower

d. AandC

e. BandC

(Hint: The teacher said answer A is incorrect)