If you were applying for a mortgage and the Bank offered you a mortgage for a 5 year term and gave you a choice of a 5 year or a 15 year amortization period, you would choose the:

a. 5 year amortization as it provides you with the right to refinance the mortgage in 5 years' time.

b. 15 year amortization period as you want to keep your monthly mortgage payments as low as possible;

c. 15 year amortization period because you want to pay off the mortgage as quickly as possible;

d. 5 year amortization period because it is important that the term of the mortgage and theamortization period be the same;