4. A general rule of thumb is that your monthly mortgage payment should not exceed 25% of your household's gross monthly income. Consider the situation of Jerry and Tracy, who just committed to a $400,000 mortgage on their dream home. They have reduced their financing choices to a 30-year conventional mortgage at 5% APR, or a 30-year interest-only mortgage at 5% APR. 4-1. (2 points) What is the monthly payment for the conventional mortgage? Do they qualify for the conventional mortgage? Why? 4-2. (2 points) What is the monthly payment for the interest-only mortgage? Do they qualify for the interest-only mortgage? Why?