10. [0/2 Points] DETAILS PREVIOUS ANSWERS TANAPMATH7 4.2.027. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The Johnsons have accumulated a nest egg of $50,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $2600/month in monthly payments (to take advantage of the tax deduction) toward the purchase of their house. However, because of other financial obligations, their monthly payments should not exceed $3200. If local mortgage rates are 2.5%/year compounded monthly for a conventional 30-year mortgage, what is the price range of houses that they should consider? (Round your answers to the nearest cent.) least expensive x most expensive x Need Help? Read It Watch It