Answer questions number 3

2. Jack and Jill Jolly are thinking about buying a home. Their combined monthly income is $5,000, and they have $30,000 savings in a bank. They also have existing debt that requires monthly payments of $350 for a car, $200 for furniture, and $250 for revolving credit. How large a mortgage loan could they expect to get if the current interest rate is 8.5 percent? How expensive a home could they buy