Question 8 [15 marks] You are considering buying a house. You plan to set aside up to 35% of your monthly salary of $16,500 as monthly mortgage payment. Suppose you already have cash saving equal to the 30% down payment for the property and will get a mortgage loan from a bank for the remaining 70% of the house price. The 25 -year mortgage loan will have a 9% APR based on end-of-month payments. What is the price of the most expensive house that you can afford