A couple found a house selling for $115,500. The taxes on the house are $1400 per year and insurance is $340 per year. They are requesting a conventional loan from the local bank The bank is currently requiring a 15% down payment and 3 points, and the interest rate is 10%. The couple's gross monthly income is $4950 They have more than 10 monthly payments remaining on a car a boat, and furniture. The total monthly payments for these items is $430 Their bank will approve a loan that has a total monthly mortgage payment of principal interest property taxes, and homeowners Insurance that is less than or equal to 20% of their adjusted monthly income Complete parts a) through g) below CERED c) Determine 28% of their adjusted monthly income 20% of their adjusted monthly income is $1206 (Round to the nearest dollar as needed d) Determine the monthly payments of principal and interest for a 20 year loan The monthly paymont of principal and interest for a 20-year loan is $ (Round to the nearest cent as needed) e) Determine their total monthly payment including homeowners insurance and taxes Their total monthly payment, including homeowners insurance and taxes is (Round to the nearest cent as needed) 1) Determine whether the couple will qually for the 20 year loan Choose the correct answer below Yes NO a) Determine how much of the first payment on the loan is applied to the principal The amount of the first payment that is applied to the principals (Round to the nearest cent as needed)