Do the Math 9-2 Mortgage Affordability Seth and Alexandra Moore of Elk Grove Village, Illinois have an annual income of $108,000 and want to buy a home. Currently, mortgage rates are 4.5 percent. The Moores want to take out a mortgage for 30 years. Real estate taxes are estimated to be $4,680 per year for homes similar to what they would like to buy, and homeowner's insurance would be about $1,500 per year. a. Uning a 28 percent front-end ratio, what are the total annual and monthly extenditures for which they would qually? Round your answers to the nearest dollar Total annual expenditures Monthly expenditures $ b. Using a 36 percent back-end ratio, what monthly mortgage payment (including taxes and insurance) could they afford given that they have an automobile loan payment of $450, a student loan payment of $350, and credit card payments of $2607 (Mint Subtract these amounts from the total monthly affordable payments for their income to determine the amount left over to spend on a mortgage.) Round your answer to the nearest dollar c. Using a 36 percent back and ratio. Ir the Moores had zero debt, what monthly mortgage payment (including taxes and insurance) could they afford? Round your answer to the nearest dollar 5