Question \#15 Use the information below to answer the following question. Property value $750,000 Loan-to-value ratio (LVR) of 85% Interest rate (nominal) per annum are as follows: Year 1.7.20% per annum compounded semi-annually Year 2. 8.35% per annum compounded semi-annually Year 3. 6.50% per annum compounded semi-annually Mortgage payment paid annually Term of loan 10 years What is the principal portion of the 2nd mortgage payment? a. $46,385 b. $45,437 c. $46,726 d. $50,470 e. None of the above