3) The house you want to buy costs $275,000. You plan to make a cash down payment of 10 percent and finance the balance over 30 years at 4.25 percent. The bank will approve your loan if your monthly payment is equal to 32 percent of your gross monthly income. (25) a) How much is your Down Payment? b) What will be the amount of the Mortgage Loan? c) What will be the amount of your Monthly Mortgage Payment? d) What must your Annual Salary be in order to be approved?(8 (1 point each) PV: PMT FV