Question 22 (2.5 points) The Singhs are shopping for a home and have requested a pre-qualification letter from their bank. The Singhs make a combined income of $4,500 per month and have credit card and car loan payments worth $500 per month. The homes in the neighbourhood where they are shopping have average monthly heating bills of $200 and property taxes of $300 per month. The bank limits the total debt service ratio to no more than 45% of their income. What maximum monthly mortgage payment do the Singhs qualify for? Enter your answer in dollars and cents