You are ready to buy a house. Total price is $160,105. For the remaining part, you plan to borrow the loan from the bank. The interest rate on the loan is 6% per year with monthly compounding (.5% per...

You are ready to buy a house. Total price is $160,105. For the remaining part, you
plan to borrow the loan from the bank. The interest rate on the loan is 6% per year
with monthly compounding (.5% per month) for a 30-year fixed rate loan. You
are also required to pay $20000 initially for down payment. If you have an annual
salary of $36,000, and you expect to use 30% of your monthly income to cover
the house loan. Should you buy this house?