3. A couple save for a house deposit and then take out a mortgage to buy the house as follows. (a) They save 600 per month for 4 years at an annual rate of interest of 2.4%, credited monthly. How much do they have at the end of 4 years? (b) They then take out a 25 year mortgage to buy the house, and can afford 1000 per month. If the annual rate of interest on the mortgage is 3.6%, debited monthly, how much can they borrow? (c) (i) How much can they afford to pay for their house, including the deposit saved? (ii) How much of the total Euro amount that they repay to the bank over the life of the mortgage will be in excess of the principal? (25 marks)