As the financial planner for Bob and Jill, you are consulting on their property decisions. They wish to sell their current house that has a market price of $840,000 and upgrade to a more expensive one costing $1.65 million. The current house is financed with an existing, fully amortising mortgage with 13 years remaining, at an interest rate of 5.5% p.a. and fortnightly payments of $1,450. The sale proceeds will be used to pay off the mortgage balance of (3 marks) and the remainder will be used as the deposit for the new house. A new mortgage to fund the The couple have a choice of two mortgages for the new house, with the following options: Bank NAB ANZ Amortisation Fully Partly Interest p.a. 5.00% 5.50% Repayments Fortnightly Monthly If Bob and Jill have an annual mortgage repayment budget of $90,000, repyaments of (2 marks) and spending. (2 marks) balance of the house price will be used. Marks Term (yrs) 20 20 Ending Balance 0 $250,000 (1 mark) provides the loan they can afford with (2 marks) annually left over from the mortgage budget for other