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Hello, this is a practice problem for a class I'm struggling with. The professor isn't much help, I'd really appreciate if someone here can answer

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Hello, this is a practice problem for a class I'm struggling with. The professor isn't much help, I'd really appreciate if someone here can answer this and break it down so I can follow the logic and see where I'm going wrong with these problems.

image text in transcribed
Suppose you take a 10-year mortgage for a house that costs $273,883. Assume the following: . The annual interest rate on the mortgage is 4.7%. . The bank requires a minimum down payment of 11% of the cost of the house. . The annual property tax is 1.6% of the cost of the house. . The annual homeowner's insurance is $758. . The monthly PMI is $67. . Your other long-term debts require payments of $1,098 per month. If you make the minimum down payment, what is the minimum gross monthly salary you must earn in order to satisfy the 36% rule? Round your answer to the nearest dollar

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