1:57:11 An investment pays $2,000 every third year for 45 years (a total of 15 payments). Your opportunity cost is 8% compounded semi- annually. The present value of this investment is: O a. $7,317.16 O b. $4,762.53 $13,323.26 O d. $9,666.46 Oe. $19,639.28 Questions attempted:0/30 18 of 30 Unsure 1.5 Marks 19 of 30 1:57:04 Lucy wants to borrow $500,000 from Royal Bank of Canada: 30- years mortgage with an interest rate of 6% (the term is 5 years). Which of the following is correct? 1. As the term of a mortgage increases, holding interest rates constant, monthly payments will increase. II. As the interest rate of a mortgage increases, holding number of payments constant, monthly payments will increase. III. As monthly payments made increase, holding the interest rate constant, the number of remaining payments will decrease. Mark sure 1. As the term of a mortgage increases, holding interest rates constant, monthly payments will increase. II. As the interest rate of a mortgage increases, holding number of payments constant, monthly payments will increase. III. As monthly payments made increase, holding the interest rate constant, the number of remaining payments will decrease. O a. All statements are correct O b. Only II and III are correct None of statements is correct O d. Only I and III are correct O e. Only I and II are correct