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Given that Jack Stone has the following income, down payment and (expected) expenses/debt commitments, calculate the monthly total mortgage principal and interest (PI) payment he

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Given that Jack Stone has the following income, down payment and (expected) expenses/debt commitments, calculate the monthly total mortgage principal and interest (PI) payment he can make using the TDS and GDS methods, and determine the total affordable home price in his situation using the Mortgage Payment Factors table provided below. bt Annual Salary 69,000.00 275.00 Car loan pmt per month Credit cards monthly min. payment Estimated Property Taxes 180.00 250.00 Estimated Heating Costs Down payment Desired amortization period 220.00 20% 20 years Mortgage payment Factors (principal and interest payment per $1,000 of loan amount) Number of Years Rate 25 20 15 2.50% $4.50 $5.31 $6.68 2.75% $4.62 $5.43 $6.79 3.00% $4.74 $5.55 $6.91 3.25% $4.87 $5.67 $7.02 3.50% $5.00 $5.79 $7.14 3.75% $5.12 $5.91 $7.26 4.00% $5.26 $6.04 $7.38 4.25% $5.39 $6.17 $750 Mortgage payment Factors (principal and interest payment per $1,000 of loan amount) Number of Years Rate 25 20 15 2.50% $4.50 $5.31 $6.68 2.75% $4.62 $5.43 $6.79 3.00% $4.74 $5.55 $6.91 3.25% $4.87 $5.67 $7.02 3.50% $5.00 $5.79 $7.14 3.75% $5.12 $5.91 $7.26 4.00% $5.26 $6.04 $7.38 4.25% $5.39 $6.17 $7.50 4.50% $5.59 $6.36 $7.68 4.75% $5.73 $6.49 $7.80 5.00% $5.87 $6.62 $7.93 Pl based on TDS Choose... Pl based on GDS Choose... $1,370 House he can afford w/ 2.5% interest rate (TDS) $178,282 House he can afford w/3.75% interest rate (TDS $1,320 $290,821 $222,853 $1,555 $1,375 Contributing $2,000 to an RRSP changes the Tax $253,223 other value (not listed) Select one: $323,682 O A. reducing the limit by $3,000 $273,810 OB. reducing the limit by $2,000 stion 29 A) contributi yet wered ked out of Flag TE

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