22) Based upon the information from your car calculations, would Nick be able to afford the car you selected? Give details to justify your reasoning and discuss Nick's options. All verbal responses must be in complete sentences. Your response should be at least 6 sentences. 23) Nick would like to buy his dream house for $300,000. He finances the whole purchase price of $300,000. Calculate his monthly payment if he secures a home mortgage loan at 3% APR for 30 years. 24) Financial advisors use a general rule that your monthly payment for your home mortgage should not be more than one third your monthly income. Use the amount Nick has left to spend from number 20 to calculate his monthly income. Discuss whether Nick will be able to afford his dream house in number 23. Give details to justify your reasoning and discuss Nicks's options. All verbal responses must be in complete sentences. Your response should be at least 6 sentences. 25) Each year Nick's employer takes 5% of his income and deposits it into a forced employer retirement plan. Instead of making one deposit, Nick's Employer makes monthly deposits of 1/12th of the annual amount taken out of his pay check. If Nick works for the company for 30 years, how much money will be in the account if it earns 5% interest each year. Hint: Use the regular deposit formula (annuity) from page 248 in the book). Assume poor Nick does not get a raise during the 30 years, and the monthly rlnnncif :fnuc fhn camp fnr 1n \\Inarc