Mr and Mrs Serebolo plan to buy a house and stop renting. Their total take-home pay and household expenditure are as follows: Per month R18 600 R4 600 R2 600 Total take-home pay: Current rent paid: Food and clothing: Water and electricity: Short term insurance Transportation: School fees R750 R700 R4 200 R800 Entertainment: R500 2.1 Determine the maximum price of the house that they can afford if interest rates are i) 10%, and ii) 12% per year. Assume that they will pay the bank monthly instalments over a period of 20 years. State all assumptions that you may make. (12) 22 How will the value of the house that the Serebolo's can afford change if they buy a number of items on credit and consequently an amount of R2 400 per month is deducted from Mr Serebolo's salary as a result of a garnishee order that has been issued? (8)