Please answer all or none

1. Marie can afford a house payment (principle and interest) of $1,200 per month. Her bank is willing to give her a rate of 3.22% APR on a 15 year fixed mortgage. What is the maximum amount Marie can borrow based on this information?

Group of answer choices

$171,132.36

$276,777.34

$216,000.00

$231,981.05

2.Jimmy and his wife Breena have decided that they can afford a house payment of $1,500 per month (Principle and Interest). Their bank has offered them a rate of 3.75% APR for a 30 year fixed rate mortgage. Based on this information, how much (maximum) can they borrow for their new home?

Group of answer choices

$540,000.00

$206,264.26

$301,011.98

$323,893.22

3.

Jean Luc and his wife Beverly are considering a home mortgage with a loan amount of $350,000. The bank is willing to give them a 30 year fixed mortgage with a rate of 3.90% APR. They will make monthly payments. If they agree to the mortgage, how much will they pay in total interest over the life of the mortgage?

Group of answer choices

$594,301.94

$244,301.94

$350,000.00

$186,818.02