please help...

Question 1 (20 marks) Country A has the following countercyclical measures for all self-use residential properties: The maximum loan-to-value (LTV) ratio is 75%. The maximum debt-servicing ratio (DSR) is 50%, and its corresponding stressed-DSR is 60% (assuming an increase of the mortgage rate by 250 basis points). Andy, aged 35, intends to purchase a flat in Country A for self-use. Andy's monthly gross income is $40,000. Currently, he is required to pay $3,500 per month for the car loan. Andy could afford to pay $2.2 million as down payment. The mortgage plan provided by ABC Bank is H+1.5%, cap at P-2.8%, repayable in 30 years. The current 1-month HIBOR and Prime rate are 1.82% and 5.26%, respectively. Andy is further advised by the real estate agent that the estimated amount of stamp duty for the purchase of this flat is $198,000, the property insurance premium is $700 per month, the monthly property management fee is $2,650, renovation expense is $250,000 and the moving expense is $4,800 Required: (a) What is the mortgage rate? (4 marks) (b) According to the mortgage plan provided by the ABC Bank, calculate Andy's maximum mortgage amount which fulfills the requirements of LTV ratio, DSR and stressed-DSR. (9 marks) (c) Based on your answer in (a), calculate the monthly mortgage payment Andy has to pay. (4 marks) (d) Other than the monthly mortgage payment, what is the total ongoing monthly housing expenses Andy expects to spend on this flat, as a home-owner