You wish to buy your first home. Your annual gross income is $48,000. You also have monthly payments for your car loan ($300) and your student loan ($300). (Round your answer to nearest dollar, if necessary) If your lender requires that your PITI plus debt payments is no more than 38% of your monthly income, then how large a PITI payment can you afford? \$ If you estimate that your monthly insurance and property tax payments will be about $150, then what is your largest affordable mortgage payment? \$ If you have qualified for a 30-year, 5.5\% mortgage, what is the most you can borrow, based on your largest affordable mortgage payment? $ If your lender requires a 20% down payment, what is the most you can afford to pay for a home, based on the size of your mortgage? \$