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Recently, the real estate market is hot, but the interest rate on mortgages keeps increasing. Now you work as a financial advisor and one client, Abby, comes to you regarding the mortgage. Your first task is to find out the mortgage rate from Commonwealth, NAB, ANZ and Bankwest for residential properties with variable interest rates

$($

The interest information is available on banks' website

$)$

$.$

$$After you explain the relevant information to Abby, he said he was looking for a property cost $

$1$

$,$

$0$

$0$

$0$

$,$

$0$

$0$

$0$

$,$

$$which he could provide

$2$

$0$

$\%$

$$deposit and took a

$3$

$0$

$-$

year mortgage. He would like to know the monthly, fortnightly and weekly payment of the mortgage.

Based on the information you provide; Abby decided to go for the monthly payment. He also queries for information about how much interest in total he had to pay for the mortgage. He seemed unhappy with the answer but given his current financial situation, there was no other options

$5$

$$years after Abby signed the mortgage agreement with the bank, he came back and seek your opinions again. He would like to reduce his monthly payments by

$5$

$0$

$\%$

$$and he asked you about how much he should pay back to the bank

$($

assume that he just made his last payment

$)$

$.$

$$The number was too high for Abby, and he was interest to know if he would like to finish the mortgage in the next

$1$

$5$

$$years$,$ how much he had to pay for monthly, fortnightly and weekly? Also how much interest he can save.

Request

Recently, the real estate market is hot, but the interest rate on mortgages keeps increasing. Now you work as a financial advisor and one client, Abby, comes to you regarding the mortgage. Your first task is to find out the mortgage rate from Commonwealth, NAB, ANZ and Bankwest for residential properties with variable interest rates

$($

The interest information is available on banks' website

$)$

$.$

$$After you explain the relevant information to Abby, he said he was looking for a property cost $

$1$

$,$

$0$

$0$

$0$

$,$

$0$

$0$

$0$

$,$

$$which he could provide

$2$

$0$

$\%$

$$deposit and took a

$3$

$0$

$-$

year mortgage. He would like to know the monthly, fortnightly and weekly payment of the mortgage.

Based on the information you provide; Abby decided to go for the monthly payment. He also queries for information about how much interest in total he had to pay for the mortgage. He seemed unhappy with the answer but given his current financial situation, there was no other options

$5$

$$years after Abby signed the mortgage agreement with the bank, he came back and seek your opinions again. He would like to reduce his monthly payments by

$5$

$0$

$\%$

$$and he asked you about how much he should pay back to the bank

$($

assume that he just made his last payment

$)$

$.$

$$The number was too high for Abby, and he was interest to know if he would like to finish the mortgage in the next

$1$

$5$

$$years$,$ how much he had to pay for monthly, fortnightly and weekly? Also how much interest he can save.

Request:

Show all the detailed calculations or the following items.

Wht is the monthky, fortnightly and weekly payment if he finished hus mortgage in the next $15$years and how much interest he can save.

Where,

Commonwealth bank interest rate $6\mathrm{.}59\%$

NAB bank interest rate $6\mathrm{.}84\%$

ANZ bank interest rate $6\mathrm{.}64\%$

Bankwest interest rate $6\mathrm{.}34\%$