Case Study 2 Pratima and her husband Chad are considering purchasing a house in Belleville, Ontario. Pratima works as a Certified General Accountant, while Chad is an estimator for a construction contracting company. They have a three-year old son, and are expecting a second child within a few months. They are looking for a resale house in a residential area, preferably close to a school. They have budgeted to spend $200 000 - $250 000 on a home. With their savings, they have enough for a $40 000 down payment plus all closing costs. Find three appropriate houses that satisfy their requirements. Give a brief description of each. For each option, estimate the total monthly expenditures for accommodations, including mortgage payments (use an interest rate of 7% la, amortized over 25 years), taxes, utilities, and insurance. Select one of the three accommodations that you think is best for Pratima and Chad, and give reasons for your choice. Also, describe why renting would not be a wise option for this family