Homework-Home Purchase Decisions Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situations: 1. Monthly gross income, $4,000 Other debt (monthly payment), $380 30-year loan at 5% Down payment to be made, 15% of purchase price Monthly estimate for property taxes and insurance, $300 Using the information from situation #1, calculate the same information for a 15-year loan at 596. 2. Affordable Mortgage Amount Affordable Home Purchase Price S Using the information from situation #1, calculate the same information for a 30-year loan at 6%. Affordable Mortgage Amount Affordable Home Purchase Price$_ 4. How much would the affordable monthly mortgage payment change if the borrower did not have any additional debts? Using the information from situation #1, calculate the affordable home purchase price if monthly gross income increases by $1,000 per month, and decreases by $1,000 per month