Consider a pool of 1000 mortgages with the average size being $500 thousands, which is expected to be paid off in 30 years with fortnightly frequency (26 payments per year).The annual mortgage interest is 5%.

1)Estimate the value of fortnightly mortgage payments from the pool (2 marks).

2)Suppose that the servicing fee is 0.5%, fill in the following table (5 marks).