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A young graduate is saving for house on Lake Hartwell. The young graduate is planning on saving $1,135.00 each quarter for 10.00 years in an

A young graduate is saving for house on Lake Hartwell. The young graduate is planning on saving $1,135.00 each quarter for 10.00 years in an investment account paying 6.48% interest that is compounded quarterly. His first deposit will be made at the end of the next quarter, so this is a regular annuity. In 10.00 years, he also plans on being able to afford a 15-year mortgage with $1,594.00 monthly payments at a 5.40% APR interest rate. Given the graduates plans, how expensive of a lake house will he expect to be able to purchase? (assume that the house price will be the value of the savings and the loan)

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