Alice planned to buy her dream house that costs $600,000. Alice has savings of $150,000 and is considering two alternative options:

Option 1: Investing that $150,000 in an investment for a period of 10 years to 15 years to accumulate enough $600,000 to buy the dream house. She approached 2 investment funds for her choice of investment. Sustainable Fund offers the rate of return of 11.95% pa, compounding weekly. Growing Fund offers return rate of 11.98% pa, compounding monthly.

Option 2: Buying her dream house now. Alice needs to immediately use her savings of $150,000 as a deposit and borrow the remaining amount from Green Bank. The current interest rate the bank offers for the first homeowner mortgage is 3.5% pa. The standard life of a mortgage in Australia is 30 years.

Required:

1. 
   
2. Compute the effective annual interest rates (EAR) offered by the funds and advise Alice on which fund she should choose.
3. How many years does Alice need to wait until she has $600,000 to buy her dream house if she chooses a Sustainable Fund for her investment?
4. Calculate the weekly mortgage payment Alice needs to pay for 30 years, assuming the mortgage interest rate is compounding weekly.