Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for t following situation. (Refer to Exhibik 9-8 and Exhibit 9-9) Note: Round time value factor to 2 decimal places, intermediate and final answers to the nearest whole number. Monthly gross income Down payment to be made (percent of purchase price) Other debt (monthly payment) Monthly estimate for property taxes and insurance 30-year loan Affordable monthly mortgage payment Affordable mortgage amount Affordable home purchase price $ Affordable Amount 1,257 Mortgage Costs $ 5,150 20 Percent $ 300 $ 400 6.5 Percent

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