7. (-/3.75 Points] ASK YOUR TEACHER DETAILS MY NOTES You want to buy a house and can afford monthly mortgage payments of $850. You plan to take out a 20-year loan. The currently available rate is an APR of 3.72%. Your mortgage lender predicts that the rate could rise to 4.22% in the near future. If the APR rises from 3.72% to 4.22% will the maximum loan amount that you can afford increase or decrease? By how many dolla? If the APR rises from 3.72% to 4.22%, the maximum loan amount that you can afford will by $ Show My Work MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER 8. [-/3 points) DETAILS A student needs to borrow $9,000 to pay for college. She can get the loan at an APR of 9.5% to be paid off in monthly installments over the next 4 years If she decides to pay the loan off in monthly installments over 3 years instead of 4 years at the given APR, how much money will she save altogether? Round your answer to the nearest cont.) Show My Work Optionen 10:14 PM