THE NEXT THREE (3) QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A borrower has arranged a sinking fund assisted mortgage (SFAM) at a rate of 8% per annum, compounded monthly. This loan will be amortized over 20 years, a 5 -year term, and monthly payments. The face value of the mortgage is written at $250,000 and the amount advanced to the borrower is $200,000. The amount of the bonus deposit ($50,000) is placed in an interest bearing account at a rate of 5% per annum, compounded monthly. Constant monthly withdrawals will be made over the 5 -year period which will deplete the fund. 14. Calculate the amount of the SFAM payment. (1) $2,091.10 (2) $1,672.89 (3) $1,319.92 (4) $1,849.89 15. Calculate the amount of the monthly withdrawal. (1) $1,013.82 (2) $329.98 (3) $882.69 (4) $943.56 16. What is the difference between the net payment and the payment on a standard constant blended payment mortgage at a rate of 8% per annum, compounded monthly (based on a 20 -year amortization with monthly payments)? (1) $922.37 (2) $418.24 (3) $1,672.89 (4) $525.34