PV = 692073 interest rate = 3.56% Initial fortnightly payment of a 25-year mortgage using the PVA formula. Fortnightly payment in Year 6 - 10 if the interest rate is increased by 2.25% after 5 years using the PVA formula. Fortnightly payment from Year 11 - 15 if the interest rate is further increased by 1.75% after 10 years using the PVA formula. Fortnightly payment from Year 16 25 if the interest rate is further increased by 1% after 15 years using the PVA formula. Effective annual interest rate for each period: Year 1-5, Year 6-10, Year 11- 15, and Year 16-25 using the EAR formula. 6. Average Effective annual interest rate of this mortgage. [1 marks]