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b. Mortgage: Select the cost of a house that you can afford. Look up the current interest rate ( 30 year) loan on bankrate.com and calculate your monthly mortgage payment for a 30-year loan. You may assume for this assignment that you are able to get the loan with no money down. What is your monthly mortgage payment? (Show your final calculations) c. Investments: Calculate how much you will have to save each month between now and then to have $300,000 in your retirement account when you retire at 65 , assuming a rate of return of 5% per year? (Show your final calculations) d. Automobile: You also decide to purchase a new car. Select the cost of a vehicle that you can afford. Look up the current auto loan interest rate (bankrate.com) and calculate your monthly auto loan payment. You may choose how long to make payments, and you may also assume for this assignment that you are able to get the loan with no money down. What is your monthly automobile payment? (Show your final calculations) e. Other Deductions: You still have other expenses to consider. The government requires around 6.2% of your gross pay for social security, 1.45% of your gross pay for medicare, and 1.5% of the value of your home for the annual property tax. What is your monthly payment for these deductions? b) Mortgage: Cost of House (Loan Value) = APR= Payback Periods = Monthly Mortgage Payment = c) Retirement Investment: Savings at Retirement = Saving Periods = Interest Rate = Savings Deposit / month = d) Automobile Payment: Cost of Vehicle (Loan Value) = APR= Payback Periods = Monthly Automobile Payment = e) Other Deductions: Social Security (6.2%)= Medicare (1.45%)= Property Tax (1.5\% House Value )= Total Other Deductions = monthly payments / month monthly deposits /month monthly payments /month /month /month / month / month