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You have just passed ACST1001 and started a summer internship at Harrison Bank, with Peter as your supervisor. As your first task, Peter has given

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You have just passed ACST1001 and started a summer internship at Harrison Bank, with Peter as your supervisor. As your first task, Peter has given you some client accounts and asked you to verify some of the details The first file is for a client named Mary, who has a mortgage with the bank. You go through the file and note the following information for Mary's mortgage Initial loan: $730,000 Term of loan: 30 years Repayment frequency: End of each fortnight . Interest rate on loan:112 = 3.4% Calculate the effective fortnightly rate. Give your answer as a percentage to 4 decimal places, and do NOT include a percentage sign Answer: Calculate the size of each of Mary's repayments using the information given above. Give your answer to the nearest cent, and do NOT include a dollar sign Answer: The second file is for a client named Toomes, who also has a mortgage with the bank. The details you can gather for Toomes' loan are as follows: Current loan outstanding: $400,000 Current monthly repayment: $1930 Next repayment: Due exactly 1 month from now . Interest rate on loan: 112 = 4.2% Using this information, determine the following: How much interest is Toomes charged for the coming month? DO NOT include a dollar sign in your

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