Question 1(4 marks): You're shopping for a mortgage. Two choices are available: (a) (2 marks) a fixed-rate mortgage with a nominal annual rate of 13%. (b) (2 marks) a variable-rate mortgage with 12.50% nominal annual rate. Which one is the lowest-cost, given all other factors are the same? If needed, you can assume any payment frequency as long as it is same for both mortgages. Question 1(4 marks): You're shopping for a mortgage. Two choices are available: (a) (2 marks) a fixed-rate mortgage with a nominal annual rate of 13%. (b) (2 marks) a variable-rate mortgage with 12.50% nominal annual rate. Which one is the lowest-cost, given all other factors are the same? If needed, you can assume any payment frequency as long as it is same for both mortgages