Next week, your friends Josh and Mia want to apply to the Fourth Global Bank for a mortgage loan. They are considering the purchase of a home that is expected to cost $155,000. Given your knowledge of personal finance, they've asked for your help in completing the Home Affordability Worksheet that follows. (Note: When completing the form, round each dollar amount to the nearest whole dollar.) To assist in the preparation of the worksheet, Josh and Mia also collected the following information: . Their financial records report a combined gross before-tax annual income of $105,000 and current (premortgage) installment loan, credit card, and car loan debt of $1,531 per month Their property taxes and homeowner's insurance policy are expected to cost $2,325 per year. . Their best estimate of the interest rate on their mortgage is 7.5%, and they are interested in obtaining a 15-year loan They have accumulated savings of $38,500 that can be used to satisfy the home's down payment and closing costs The lender requires a minimum 20% down payment, and an affordability ratio that ranges from a minimum of 25% to a maximum of 30%. Next week, your friends Josh and Mia want to apply to the Fourth Global Bank for a mortgage loan. They are considering the purchase of a home that is expected to cost $155,000. Given your knowledge of personal finance, they've asked for your help in completing the Home Affordability Worksheet that follows. (Note: When completing the form, round each dollar amount to the nearest whole dollar.) To assist in the preparation of the worksheet, Josh and Mia also collected the following information: . Their financial records report a combined gross before-tax annual income of $105,000 and current (premortgage) installment loan, credit card, and car loan debt of $1,531 per month Their property taxes and homeowner's insurance policy are expected to cost $2,325 per year. . Their best estimate of the interest rate on their mortgage is 7.5%, and they are interested in obtaining a 15-year loan They have accumulated savings of $38,500 that can be used to satisfy the home's down payment and closing costs The lender requires a minimum 20% down payment, and an affordability ratio that ranges from a minimum of 25% to a maximum of 30%