Note: you never need to put a negative (-) sign in front of any answer! When we ask for a dollar (5) int, we just w the amount, we don't need to know it's inflow or outflow (+/) as well assume this was apparent from the question A few years out of UCCS you're earning $125,000 and decide to buy a condominium. The one you like will cost $300,000. The bank will require a 15% down payment and will lend you the difference in a 30yr traditional mortgage at an interest rate of 4.800%(M). DO(M) What is the amount of your down payment? What is the amount nf the Inan? Module 6 Canvas Homework 115 Points Total Note: you never need to put a negative (-) sign in front of any answer! When we ask for a dollar ($) amount, we just want the amount, we don't need to know it's inflow or outflow (+/-), as well assume this was apparent from the question A few years out of UCCS you're earning $125,000 and decide to buy a condominium. The one you like will cost $300,000. The bank will require a 15% down payment and will lend you the difference in a 30yr traditional mortgage at an interest rate of 4.800%(M). 1 2 3 4 5 What is the amount of your down payment? What is the amount of the loan? What is your home equity, the day you buy the condominium? What is the monthly payment on the mortgage? What is your taxable income for the first year you own the condominium (i.e. what is your salary minus the total interest paid in year 1)? If your effective tax rate is 25%, how much would you have paid in taxes if you didn't have the mortgage loan and your taxable income was $125,000? If your effective tax rate is 25%, how much will you pay in taxes on your taxable income from Q5? How much did you save in taxes the first year by owning the condominium? the condo, Colorado real estate continues to climb. Your condo appreciates 4% every 6 7 8