You have just graduated from ACME State with a degree in Diesel Technology. Your new job takes you to Toledo, Ohio. You are now earning $$37,000$ per year. Your take home pay is $70\%$ of that gross total. You are anxious to purchase a home. You have the following monthly expenses:

Food $$255$

Utilities $$145$

Phone $$75$

Medical $$35$

Insurance $$130($including auto, health and life$)$

Clothing $$70$

Student loan payment $$135$

VISA payment $$65$

MasterCard Payment $$48$

Car payment $$211$

Miscellaneous $$105$

First calculate your monthly take$-$home pay. Next, add up the budgeted monthly expenses shown above. How much remains for a monthly mortgage PITI payment $($PITI $=$ principal, interest, taxes, insurance$)?$

Assume that taxes and insurance $($T&I$)$ amount to $$80$ per month. How much remains to pay monthly mortgage principal and interest $($P&I$)?($Hint: Use your answer from the previous question$)$

Using the answer to the above question calculate the size of the mortgage loan you could obtain. Assume a $30-$year loan at $8$ percent annual interest.

Assuming you do not pay the mortgage off early, how much interest will you pay the lender over the life of the $30$ year loan if you payment is $$578\mathrm{.}67$ per month and the mortgage loan was for $$137,713?$