12. Can I afford this home? - Part: 2 Can Aiden and Jesse Afford This Home Using the Installment Debt Loan Criterion? Next week, your friends Alden and Jesse want to apply to the Tenth National Bank for a mortgage loan. They are considering the purchase of a home that is expected to cost $125,000. Given your knowledge of personal finance, they've asked for your help in completing the Home Affordability Worksheet that follows. (Note: When completing the form, round each dollar amount to the nearest whole dollar.) To assist in the preparation of the worksheet, Aiden and Jesse also collected the following information: - Their financial records report a combined gross before-tax annual income of $105,000 and current (pre-mortgage) installinent loan, credit card, and car loan debt of $1,531 per monthi - Their property taxes and homeowner's insurance policy are expected to cost $3,125 per year. - Their best estimate of the interest rate on their mortgage is 7.5%, and they are interested in obtaining a 15 year loan. - They have accumulated savings of $32,500 that can be used to satisfy the hame's down payment and closing costs. - The lender requires a minimum 20% down payment, and instaliment loan affordability ratios that range from a minimum of 33% to a maximum of 38% A table of monthly payments (necessary to repay a $10,000 toan) follows. lote: Uniess labeled differently, all of the following values represent dollar amounts. Also, some values calculated or used in the upper section of the ble may aiso be used in the lower section. Remember to round each dollar amount to the nearest whole dollar. Given these results, WHich statemern reyenumy true? Qecea nuealifu tn ourchase their $125,000 target home according to the instaliment Debt Affordabikty Worksheet criterion