You are a financial adviser and are approached by a married couple, Keith and Patti Richards. Both are 70 years old and Australian citizens. The following information is an extract of data you gathered as part of the fact-finding exercise during an initial client consultation with them:
The couple has approached you for an understanding of their age pension eligibility.
They have the following assets. Calculate their entitlement for the age pension.

Assets Amounts
Home $600,000.00
Home Contents and cars $65,000.00
Investment property — net rental income of $10 000 $320,000.00
Bank account —interest rate of 2% $110,000.00
Term deposit — interest rate of 3.5% $270,000.00

Calculate their entitlement to the age pension.