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Question 7 This is Ben's budget. Use his budget to determine the answer to the following question: Scenario: Suppose Ben wants to buy a house

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Question 7 This is Ben's budget. Use his budget to determine the answer to the following question: Scenario: Suppose Ben wants to buy a house for $251,599. 1. For a 15-year mortgage, Ben gets a 4% interest rate. Calculate his monthly payments for this 15-year mortgage, after 20% down payment. Monthly Income ITEM AMOUNT $2.000,00 Monthly Expenses ITEM Columni Rent AMOUNT $800.00 Income Source 1 Cellphone $100.00 Groceries $200.00 Car payment $273.00 Auto expenses $120.00 $250.00 Student loans Credit cards Auto Insurance $100.00 $78.00 Personal care $50.00 Entertainment $100.00 Miscellaneous $50.00

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