please help

9.0 126.6758 9.5 10.0 129.3976 132.1507 101.4267 104.4225 107.4605 89.9726 93.2131 96.5022 83.9196 87.3697 90.8701 80.4623 84.0854 87.7572 Note: Unless labeled differently, all of the following values represent dollar amounts. Also, some values calculated or used in the uppers table may also be used in the lower section. Remember to round each dollar amount to the nearest whole dollar. Home Affordability Worksheet Based on Installment Payments and Monthly Income High Value Low Value Amo 1. Annual income 10 2. Monthly income 3. Existing monthly installment payments 4. Existing monthly installment payments as percentage of monthly income (%) 5. Lender's monthly installment loan affordability ratio 38% 33% 6. Maximum amount of total affordable installment debt 7. Maximum monthly mortgage payment (PITI) affordable based on installment loan ratio 8. Estimated monthly property tax and insurance payment 9. Maximum monthly loan payment (P and I only) 10. Expected interest rate 7.5% 11. Planned loan maturity (years) 12. Mortgage payment factor per $10,000 (from the Loan Maturity table) 13. Maximum loan based on mortgage payment factor (from the Loan Maturity table) 14. Required (20%) down payment 15. Maximum home price based on installment loan ratio Next week, your friends Olivia and Anthony want to apply to the Fourth Global Bank for a mortgage loan. They are considerin that is expected to cost $245,000. Given your knowledge of personal finance, they've asked for your help in completing the H 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, Olivia and Anthony also collected the following information: Their financial records report a combined gross before-tax annual income of $105,000 and current (pre-mortgage) install credit card, and car loan debt of $1,531 per month. Their property taxes and homeowner's insurance policy are expected to cost $2,450 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 $56,500 that can be used to satisfy the home's down payment and closing costs. The lender requires a minimum 20% down payment, and installment loan affordability ratios that range from a minimum of maximum of 38% A table of monthly payments (necessary to repay a $10,000 loan) follows. Loan Maturity 10 Year Interest Rate (%) 5.0 5.5 106.0655 15 Year 79.0794 81.7083 108.5263 111.0205 84.3857 20 Year 65.9956 68.7887 71.6431 74.5573 77.5299 80.5593 83.6440 25 Year 30 Year 58.4590 53.6822 61.4087 56.7789 64.4301 59.9551 67.5207 63.2068 70.6779 66.5302 73.8991 69.9215 77.1816 73.3765 113.5480 116.1085 7.0 7.5 8.0 87.1107 89.8828 92.7012 95.5652 118.7018 121.3276 9.0 126.6758 9.5 10.0 129.3976 132.1507 101.4267 104.4225 107.4605 89.9726 93.2131 96.5022 83.9196 87.3697 90.8701 80.4623 84.0854 87.7572 Note: Unless labeled differently, all of the following values represent dollar amounts. Also, some values calculated or used in the uppers table may also be used in the lower section. Remember to round each dollar amount to the nearest whole dollar. Home Affordability Worksheet Based on Installment Payments and Monthly Income High Value Low Value Amo 1. Annual income 10 2. Monthly income 3. Existing monthly installment payments 4. Existing monthly installment payments as percentage of monthly income (%) 5. Lender's monthly installment loan affordability ratio 38% 33% 6. Maximum amount of total affordable installment debt 7. Maximum monthly mortgage payment (PITI) affordable based on installment loan ratio 8. Estimated monthly property tax and insurance payment 9. Maximum monthly loan payment (P and I only) 10. Expected interest rate 7.5% 11. Planned loan maturity (years) 12. Mortgage payment factor per $10,000 (from the Loan Maturity table) 13. Maximum loan based on mortgage payment factor (from the Loan Maturity table) 14. Required (20%) down payment 15. Maximum home price based on installment loan ratio Next week, your friends Olivia and Anthony want to apply to the Fourth Global Bank for a mortgage loan. They are considerin that is expected to cost $245,000. Given your knowledge of personal finance, they've asked for your help in completing the H 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, Olivia and Anthony also collected the following information: Their financial records report a combined gross before-tax annual income of $105,000 and current (pre-mortgage) install credit card, and car loan debt of $1,531 per month. Their property taxes and homeowner's insurance policy are expected to cost $2,450 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 $56,500 that can be used to satisfy the home's down payment and closing costs. The lender requires a minimum 20% down payment, and installment loan affordability ratios that range from a minimum of maximum of 38% A table of monthly payments (necessary to repay a $10,000 loan) follows. Loan Maturity 10 Year Interest Rate (%) 5.0 5.5 106.0655 15 Year 79.0794 81.7083 108.5263 111.0205 84.3857 20 Year 65.9956 68.7887 71.6431 74.5573 77.5299 80.5593 83.6440 25 Year 30 Year 58.4590 53.6822 61.4087 56.7789 64.4301 59.9551 67.5207 63.2068 70.6779 66.5302 73.8991 69.9215 77.1816 73.3765 113.5480 116.1085 7.0 7.5 8.0 87.1107 89.8828 92.7012 95.5652 118.7018 121.3276