2. (12 Points) You received an inheritance in the amount of $20,000. You have been living in an apartment for the last 3 years. The apartment rent totals $800.00 per month With this inheritance, you decide to purchase a house. The term of the house loan is 30 years. The interest rate is 4.5% per year compounded monthly. The goal is to have the house payment (principal and interest) equal to the amount of the apartment rent. What is the maximum amount of your house budget? When purchasing a house, paying property taxes and homeowners insurance is required. Based on the house that you have chosen, the property taxes total $1,200 per year and the insurance totals $1,800 per year. What is the new monthly mortgage payment? Assume that the house is in Indiana, homeowners may qualify for property tax exemptions. These exemptions will reduce the amount of property taxes paid. List two exemptions. In addition, describe the purpose of the exemption and the amount of the exemption. 2. (12 Points) You received an inheritance in the amount of $20,000. You have been living in an apartment for the last 3 years. The apartment rent totals $800.00 per month With this inheritance, you decide to purchase a house. The term of the house loan is 30 years. The interest rate is 4.5% per year compounded monthly. The goal is to have the house payment (principal and interest) equal to the amount of the apartment rent. What is the maximum amount of your house budget? When purchasing a house, paying property taxes and homeowners insurance is required. Based on the house that you have chosen, the property taxes total $1,200 per year and the insurance totals $1,800 per year. What is the new monthly mortgage payment? Assume that the house is in Indiana, homeowners may qualify for property tax exemptions. These exemptions will reduce the amount of property taxes paid. List two exemptions. In addition, describe the purpose of the exemption and the amount of the exemption