2. Which of the following terms refers to an owners right to redeem a property before foreclosure sale?

A) Equity of redemption

B) Statutory redemption

C) Attachment

D) Execution

4. Given the following information, calculate the loan-to-value (LTV) ratio of this loan:
   1. Monthly payment in the first year: $3,688
   2. Loan amount: $1,000,000
   3. Purchase price: $1,300,000

1. 1.75
2. 1.30
3. 0.77
4. 0.50

5. Suppose you just signed a $50,000, 20-year mortgage with a 15% fixed interest rate with monthly repayments. What proportion of the loan will have been paid off at the end of year 5?

1. 79.88%
2. 5.92%
3. 93.42%
4. 20.12%