drawing the cash flow diagram first.

Alex just bought a condominium in Petaling Jaya. His $450,000 mortgage is 3.3% compounded monthly, and Alex will make monthly payments on his loan for 30 years. In addition, property maintenance and insurance amount to $300 per month.

a. What is the total mortgage-related amount of Alexs monthly condo payment?

b. Develop an estimate of Alexs total monthly expenses (maintenance, utilities, and so on) for his condominium.

c. If Alex qualifies for a 20-year mortgage having an APR of 2.9% compounded monthly, what will his monthly mortgage payment be (there will be 240 payments)?

d. How much do you think Alex needs to earn for him to live comfortably?