Christopher just received his checking account statement from his bank. He has a NOW account with free checking that pays $0\mathrm{.}75\%$ APR on the balance and requires a $$500$ minimum balance. His statement shows that he currently has a balance of $$3,950.$ In looking at his statement he notices that his car payment check for $$400$ is still outstanding, and that his recently received payroll deposit of $$3,600$ had not posted at the time the statement was created. His normal living expenses average $$1,500$ per month including his car payment. Other than his car loan, he rarely writes any checks as he prefers to use his debit card and ATM card for day$-$to$-$day living expenses. He pays his credit card balance in full every month. Other than his checking account he does not own any investments. He has always dreamed of owning a house, and