8. You just landed a job making $52,000 per year. You have decided that you want to buy a house instead of continuing to rent. The Bank said that it can approve your loan for 30 years at 2.75% if you make a 5% down payment and have your mortgage payment equal to 32% of your gross monthly income. Answer the following questions: a) What would be the required mortgage payments for the house? b) What is the amount of the Loan that you qualify for? c) What is the total cost of a House that you can afford? d) How much do you need for the down payment