Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. (Refer toExhibit 9-8andExhibit 9-9)(Round time value factor to 2 decimal places, intermediate and final answers to the nearest dollar amount. Omit the "$" sign in your response.)

Monthly gross income	$	8,750
Down payment to be made (percent of purchase price)		10	percent
Other debt (monthly payment)	$	450
Monthly estimate for property taxes and insurance	$	600
30-year loan		5.5	percent

Affordable monthly mortgage payment	$
Affordable mortgage amount	$
Affordable home purchase	$