Marcia wants to buy a home. Her monthly gross income is $11,000. She currently has a car payment of $850/month and a student loan payment of $400/month. The bank wants her to escrow $800/month for taxes and insurance. The bank requires the following income and loan ratios; a minimum down payment of 20%, a P&I ratio < 25%, a P, I, T, & HI ratio < 28%, a P, I, T, HI and other debt service ratio < 33%, and a LTV ratio of 80% or less. a. What is the maximum market value of a home that Marcia could purchase given a current market rate on a 30-year fixed rate loan is 5.30%? (Round answer to nearest whole number.) Maximum FMV $ b. How much must Marcia have for the down payment? (Round answer to nearest whole number.) Down payment $