A.Behar rents his apartment for $2,500 per month, utilities not included. When he moved in, he paid a $3,000 security deposit using money from his self-directed TFSA account that was achieving an annual rate of 6% per year. His tenants insurance costs him $425 per year. What are Behars total annual costs of renting?

B.The bank has determined that based on TSD ratio of 40% and other factors, the maximum monthly mortgage payment that Sam qualifies to make is $3,500. The ten-year fixed rate of interest is 5% BUSI 3430-Smimou-Winter 2021 Page 3 of 4 compounded semi-annually and the mortgage is to be amortized over 25 years. What is the maximum value of the mortgage that Sam may obtain from the bank?