ou are in the market to purchase a home in Vancouver after you just took a job offer at Amazon. The company will pay $220,000 annually. After examining your budget, you realize that you can afford a $5,000 monthly mortgage payment. Currently, the bank offers a 5% fixed interest rate with the monthly payments and you have $500,000 savings as your down payment. What is the price of a house you can afford to purchase?

COMPUTE USING BA2 CALCULATOR