Question: Task 3 (7 marks). Consider a pool of 800 mortgages with the average size being $500 thousands, which is expected to be paid off in

Task 3 (7 marks). Consider a pool of 800 mortgages with the average size being $500 thousands, which is expected to be paid off in 30 years with fortnightly frequency (26 payments per year). The annual mortgage interest is 4.3%. 14) Estimate the value of fortnightly mortgage payments from the pool (2 marks). 15) Suppose that the servicing fee is 0.7%, fill in the following table ( 5 marks)

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