you start a job in finance earning $72,000 per year and decide to buy a home. You can afford to pay no more than
$1,000 per month for the fixed monthly payments on a 30-year fixed-rate home loan (mortgage) and the current conventional 30-year fixed mortgage annual interest rate that you qualify to borrow at is 4%.
What is the maximum size home loan you can afford? Please round your numerical answer to the nearest dollar.
A. $72,000 B. $209,461 C.$300,000 D. $249,661 E. $25,000