Penny and Ernest want to purchase a new home for $150,000. Their combined income is $58,000,...

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Penny and Ernest want to purchase a new home for $150,000. Their combined income is $58,000, and they have collected a down payment of $38,000. They need to obtain a mortgage of $112,000. Taxes on the house are $1,800 a year and the heating is $1,100 annually. The couple's other debt payments are $623 per month for their car loan and their student loan. To keep payments low, the mortgage will be amortized over 25 years. Interest rates are 6.00%. 10. What is their monthly mortgage payment? a. $715.68 b. $726.58 c. $725.85 d. $718.68 e. $716.58 Penny and Ernest want to purchase a new home for $150,000. Their combined income is $58,000, and they have collected a down payment of $38,000. They need to obtain a mortgage of $112,000. Taxes on the house are $1,800 a year and the heating is $1,100 annually. The couple's other debt payments are $623 per month for their car loan and their student loan. To keep payments low, the mortgage will be amortized over 25 years. Interest rates are 6.00%. 10. What is their monthly mortgage payment? a. $715.68 b. $726.58 c. $725.85 d. $718.68 e. $716.58