$4-28.$ A young couple is in the market for a new house.

The maximum payment they can afford is $$1,700$ per

month. Of this payment, property taxes and homeowner's

insurance amount to $$450$ per month. If the interest

rate on the mortgage is $0\mathrm{.}5\%$ per month $(6\%$ nominal

compounded monthly$),$ how much of the house payment

can the couple afford to finance? The duration of the

mortgage loan is $30$ years $(360$ months$).(4\mathrm{.}7\mathrm{.}2)$