9. (20 pts ) You and your significant other decide to plan for the transition from renting to homeownership. You estimate that together you'll be able to budget and set aside $750 a month to save for a downpayment on a first home. A) (4 pts) Assuming you'll be able to earn a 5 percent rate of return compounded monthly, how much will you have accumulated after 4 years? B) (3 pts ) In order to avoid paying additional PMI fees and get a lower mortgage rate you are going to pay 20 percent down on your anticipated purchase. What is the maximum house price that you'll be able to purchase? C) (4pts) Assuming you will finance the remaining 80 percent of the purchase price with a 30 year mortgage with monthly payments at a 5.625 percent interest rate, what will be the monthly payments you will have to pay? D) ( 10 pts ) Use the link below to verify your answer in Part C in the previous question does fully amortize your mortgage: 9. (20 pts ) You and your significant other decide to plan for the transition from renting to homeownership. You estimate that together you'll be able to budget and set aside $750 a month to save for a downpayment on a first home. A) (4 pts) Assuming you'll be able to earn a 5 percent rate of return compounded monthly, how much will you have accumulated after 4 years? B) (3 pts ) In order to avoid paying additional PMI fees and get a lower mortgage rate you are going to pay 20 percent down on your anticipated purchase. What is the maximum house price that you'll be able to purchase? C) (4pts) Assuming you will finance the remaining 80 percent of the purchase price with a 30 year mortgage with monthly payments at a 5.625 percent interest rate, what will be the monthly payments you will have to pay? D) ( 10 pts ) Use the link below to verify your answer in Part C in the previous question does fully amortize your mortgage