c) The Macnair household has an interest only mortgage of 100,000 on a fixed rate mortgage at 2.6% with two years left. If they repay now, the lender will charge an early repayment charge of 4% on the outstanding mortgage balance. They have savings earning 3% per annum interest they could use to pay this cost. Another lender has offered them a two-year mortgage at 1.5% per annum and will cover the other costs of remortgaging. Should the Macnair's pay the penalty and remortgage? [10 MARKS] c) The Macnair household has an interest only mortgage of 100,000 on a fixed rate mortgage at 2.6% with two years left. If they repay now, the lender will charge an early repayment charge of 4% on the outstanding mortgage balance. They have savings earning 3% per annum interest they could use to pay this cost. Another lender has offered them a two-year mortgage at 1.5% per annum and will cover the other costs of remortgaging. Should the Macnair's pay the penalty and remortgage? [10 MARKS]