(7) You would like to purchase a house. You plan to make a down payment equal to 20% of the purchase price and take out a 30-year, fixed-rate mortgage for the remaining 80%. You would like to select a house such that your monthly payment, including mortgage and taxes, does not exceed $2,200. The annual tax rate is 1.3% of the purchase price and there is a special assessment (a form of tax) for the local school district of $1500 per year. You can assume that 1/12th of the tax and assessment is paid each month. If the interest rate is 4%/year compounded monthly, what is the most expensive house you can afford