a. The target of the Mortgage Insurance Programme is to increase the loan-to-value ratio for eligible home buyers. This reduces the down payment needed and hence the cost of home ownership.

b. If there is a budget deficit, one should revise his/her goals and budget allocations.

c. If you invest $100 at a rate of return 8% for one year, compounded semiannually, at the end of the year your balance will be $108.16.

d. Knowing that the lower the interest rate is dropping and will be kept it low for a prolonged period, you should hold more fixed rate CDs than floating rate CDs.

e. When you are evaluating different saving plans offered by banks in Hong Kong, you should consider all of the following factors.

The interest rate offered by the banks. The charges on the accounts The time you need to get back your money The tax rate on savings.

f. When you are spending more than your income, you are experiencing a budget deficit. When you are receiving more income than your spending, you are experiencing a budget surplus.

g. The annual percentage rate for installment loans is always higher than that of single payment loans with the same stated interest rate.

h. Although John is earning $30,000 per month, he may not be qualified for a mortgage loan with monthly payment of $10,000.

i. The line of credit of a mortgage loan is determined by the loan-to-value ratio.

j. Interest rates on home equity lines of credit are typically lower than on any other form of consumer credit.

Please answer the above statement whether it is true or false, and with explanation, thanks