A) You can afford monthly payments of $700. If current mortgage rates are 3.25% for a 15-year fixed rate loan, how much can you afford to borrow without making a down payment on the house? B) If you are required to make a 10% down payment and you have the cash on hand to do it how expensive of a home can you afford? (Hint for both A and B: You will need the installment loan formula and solve for the principal.)