Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. UseExhibit 7-6,Exhibit 7-7.(Round your intermediate and finalanswers to the nearestwholedollar.). Follow Exhibit 7-6 as a guide.

Monthly gross income $3,460

Other debt (monthly payment) $220

25-year loan at6percent

Down payment to be made (percent of purchase price)15percent

Monthly estimate for property taxes and insurance $240

Affordable monthly mortgage payment?

Affordable mortgage amount?

Affordable home purchase?