23. You wanted to refinance your home as interest rates have dropped and you are thinking of getting a 15 yr mortgage to cut your total interest payments over the life of the loan. If your mortgage balance is 200k and a 15 yr mortgage is at 4%, how much will your monthly payment be a. 1,479 b. 31,952 C. 7,972 d. 954 24. You are going to receive monthly payments of 1,000 for the next 5 years. You need a lump sum however and you go to a firm that will pay you a lump sum but they want to earn -1%. How much will you receive a. 60k b. Ok c. 48.3k d. 61.5k 25. T/F The formula for FV is PV*(1+i)nth power 26. T/F If I have a standard deviation of 10 and a return of 8%, then 95% of the time I should lose no more than 2% 27. T/F IF I have net income of 5 million, depreciation of 1 million and capital expenditures of 2 million than my free cash flow is 3 million 28. T/F The 3 main financial statements are the income statement, balance sheet, and statement of cash flow and the balance sheet list assets and liabilities of the firm