Jeremy and his wife, Samantha, both work and have a combined gross income of $100000 per year. They estimate the property taxes on their condo will be $1000 and insurance would be about $1470 per year. Jeremy takes the bus to work, but Samantha has a car payment of $305 per month, and they are both still paying off student loans for a combined total of $255 per month. Use this information to answer the questions below. Express your answers rounded correctly to the nearest cent!

(i) Determine how much of a monthly mortgage Jeremy and Samantha can afford. Payment = $........................

(ii) If the couple can get a 20-year mortgage with a fixed rate of 5.15%, use Excel's PV function to determine how much house they could afford Amount to Borrow = $...............................