Victor earns a gross annual income of $$84,482$ and is buying a home for $$185,500.$ He is making a $15\%$

down payment and financing the rest with a $25-$year loan at $4\mathrm{.}25\%$ interest.

Monthly Mortgage Payment Per $$1000$ Borrowed

$($a$)$ What is the mortgage amount he will borrow?

$($b$)$ Can he afford this mortgage? Justify your response.

$($c$)$ What will his monthly mortgage payment be$?$

$($d$)$ What will his total payment for the house be$?$

$($e$)$ What is the amount of interest he will pay?

Answer: