Problem s: (25 points) You are considering investing in a rental property. AirBNB has made…

Problem s: (25 points) You are considering investing in a rental property. AirBNB has made renting properties easier than ever! You would like to buy a condo (2 bed 2 bath) in St. Pete Beach. To get a loan on a house (AKA a mortgage) you need 20% of the total cost of the property as a down payment. You have been saving $500 a month for the last 10 years towards this investment and putting it into an account that earn 3% compounded monthly a) How much can you afford to spend on the purchase of the condo AKA what is the maximum price condo you can purchase based on the amount you have saved for the down payment? (3 points) al mortgages