it Cards, Mortgage Part 1 of 2 points O Points: 0 of 1 How much can you afford to borrow? $(Round to the nearest dollar as needed.) Save K You can afford monthly payments of $700. If current mortgage rates are 3.81% for a 30-year fixed rate loan, how much can you afford to borrow? If you are required to make a 10% down payment and you have the cash on hand to do it, how expensive a home can you afford? (Hint: You will need to solve the loan payment formula for P.)