Question: Develop the table below comparing the monthly payments for a 30-year $200,000 mortgage loan with its APR compounded monthly. The total monthly payment for a

Develop the table below comparing the monthly payments for a 30-year $200,000 mortgage loan with its APR compounded monthly. The total monthly payment

Develop the table below comparing the monthly payments for a 30-year $200,000 mortgage loan with its APR compounded monthly. The total monthly payment for a home mortgage loan is affected by the property tax and insurance. This amount is around 15% of the principal plus interest payment that you calculated in the previous problem. Moreover, as a rule of thumb, a family should not devote more than 28% of its gross income for home loan payments. With this information, find the amount that a family must earn to afford a $200,000 mortgage loan using the APRs of the previous problem. The table below should help you in your computations

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