Please show all work.

You have just graduated from MSU, and have landed a job with a starting salary of $75,000 per year, You have decided to buy a house, and you have $10,000 saved up from your part-time job at Qdoba. The Eighth National Bank of DeWitt is offering to give you a 30 -year mortgage at 9.7% annual interest with monthly. payments, but they will not give you a loan that will involve monthly payments of more than 25 w of your income. Assuming you will borrow as much as you can. from this bank, and assuming closing costs of 4% of the amount borrowed, what is the highest price you will be able to pay for the house