Jane Smith is considering the purchase of a house and will require a bank loan of AUD500,000. The bank has indicated the following terms: 6% pa (monthly equivalent rate of 0.5% fixed interest, 20-year term monthly repayments, interest and principal such that the loan is fully repaid. Choose the closest answer choice Q16.1 - What is the monthly repayment amount? 0 AUD 2,604 AUD 3,936 OAUD 3,582 0 AUD 2,642 AUD 2,333 Q16.2 If Jane increases the monthly repayment by AUD800, how many years (approximately) will it take to fully repay the loan? 011 years O13 years O14 years O7 years O18 years Q16.3-As an alternative, the bank has offered an interest only loan at a rate of 7.5% pa, what is the monthly repayment amount? AUD 3,125 AUD 3,750 AUD 2,500 OAUD 5,150 OAUD 3,000