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Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. ( Refer to Exhibit 9

Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. (Refer to Exhibit 9-8 and Exhibit 9-9.)
Note: Round time value factor to 2 decimal places, intermediate and final answers to the nearest whole number.
Mortgage Costs
Monthly gross income $ 7,800
Down payment to be made (percent of purchase price)15 Percent
Other debt (monthly payment) $ 400
Monthly estimate for property taxes and insurance $ 500
30-year loan 6.0 Percent

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