1) Chris just got a job and wanted to buy a house near his new company. He figures he can afford 5% down payment and $850 monthly payment if he can get approved on a 4.8% APR, 30-year mortgage for the remaining. What is the price of the house he should be looking at now?

	$162,008
	$127,289
	$170,535
	$201,422

2) Josie's parents decided to buy a new house for their retirement. They are looking at $200,000 house. Since their credit history is excellent, they can get approved for 3.6% APR on 30-year mortgage. In the amortization schedule, how much is the remaining principal balance after their first monthly mortgage payment?

	$199,090.71
	$197,822.44
	$199,690.71
	$198,400.26