Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation using the Total Debt Service ratio. (Refer to Exhibit 7-7 and Exhibit 7-8) (Round time value factor to 2 decimal places, intermediate and final answers to the nearest dollar amounts. Omit the "$" sign in your response.)

Monthly gross income	$	4,375
Down payment to be made (percent of purchase price)		20	percent
Other debt (monthly payment)	$	240
Monthly estimate for property taxes and insurance	$	275
25-year loan at		6.0	percent

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