drive 8 of 30 ncordia Wie 1:58:04 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? I. 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. Only I and il are correct Ob. Only Il and Ill are correct Oc. None of statements is correct Od. All statements are correct Oe. Only I and il are correct Hide FD