You are paying $20000 for a car. If the loan amount is $16000, the loan term is 60 months, and the APR is 6 percent, what is your loan payment? O $386.66 O $200.66 O $309.32 O $319.32 Michelle's gross monthly income is $4040. She is applying for a mortgage loan that will have a $960 monthly mortgage payment (principal and interest). In addition, property taxes will be $120 per month, and homeowner's insurance will be $60 per month. Michelle's other debt payments are $300 (car loan) and $240 (minimum payments on credit cards). Will she qualify for the mortgage loan if her lender requires the mortgage debt service ratio to be no more than 44 percent and the debt payment ratio to be no more than 39 percent? Yes, because both her mortgage debt service ratio and her debt payment ratio meet the lender's requirements. O No, because her debt payment ratio exceeds the lender's limit. O No, because her mortgage debt service ratio and her debt payment ratio both exceed the lender's limits. Yes, because her mortgage debt service ratio is lower than the lender's limits