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Lara has a morgage loan of $796,468 with a equal fortnightly payments over 25 years at 5.29% interest compounded fortnightly. Answer the following questions 1.

Lara has a morgage loan of $796,468 with a equal fortnightly payments over 25 years at 5.29% interest compounded fortnightly. Answer the following questions

1. Initial fortnightly payment of a 25-year mortgage using the PVA formula.

2. Fortnightly payment in Year 6 - 10 if the interest rate is increased by 2.25% after 5 years using the PVA formula.

3. Fortnightly payment from Year 11 - 15 if the interest rate is further increased by 1.75% after 10 years

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