Question: Use the FHA Maximum Loan Values by State table or the Monthly Payments (Principal and Interest) for Each $1000 Borrowed table. Calculator answers may be

Use the FHA Maximum Loan Values by State table or the Monthly Payments (Principal and Interest) for Each $1000 Borrowed table. Calculator answers may be slightly different. The Perez family is planning to buy a $85,000 house. Suppose the family gets a loan of 80% of the price of the house, and this is a 25-year loan at 10% (a) What will be the family's down payment on the loan? $ (b) If the family's taxes and insurance amount to $730 annually, what will be the monthly payment, including taxes and insurance? (Round your answer to the nearest cent.) $

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