b. The monthly income of an investor is $9,000 per month, and a maximum of 30% of the monthly income can be used to pay off a mortgage loan. The investor wants to get a 30-year P&I mortgage loan with a fixed interest rate of 2.5%. Assuming the investor does not need to pay stamp duty or other acquisition costs, how much equity does this investor need to prepare to purchase a property with a market value of $900,000? c. Tony buys a house valued at $900,000 with 80% financed by a constant payment mortgage with a 2.8% annual interest rate. If Tony's monthly income is $8000 after tax and 40% of his income is used to pay off the mortgage loan, when can Tony pay off the mortgage loan? If Tony wants to pay off the mortgage loan within 16 years, how much monthly mortgage payment does he need to make? (8+8+8= 24 Points) lae sheet