12/ Jos and Rosa are looking for a home. Their combined gross annual income is $

72,000. The best mortgage rate offered by their bank is 3.02 percent 5-year fixed rate compounded semi-annually with a 20-year amortization. The annual property taxes are estimated at $2280, and the annual heating costs are $1920. Their personal debt consumption is $600 a month. The bank's guideline for TDSR is 40 percent. Based on this information, what is the maximum monthly mortgage payment they could afford?

A.$2000.00

B.$1450.00

C.$1580.59

D.$1644.35

18/ How much money will you have in 25 years if you invest $150 at the beginning of each month at 8.4 percent interest rate being compounded semi-annually? (Round to the nearest dollar.)

A.$149,774

B.$148,750

C.$144,828

D.$146, 212

43/ If you want to save $25,000 for a down payment on a home in 7 years, assuming an interest rate of 4.2 percent compounded annually, how much money do you need to save each month? (Round to the nearest dollar.)

A.$262

B.$267

C.$297

D.$257