Q5. In the sheet Q5 you will find a partially-filled worksheet. A young married couple has carefully looked at their budget. After review, they can afford a monthly mortgage payment of $1,000. They go to their local banker and she offers them a mortgage of 6.8% APR with monthly compounding over a term of 30 years. The couple has enough savings to pay 20% down, so the mortgage will be 80% of the home's value. The couple would like to know what the size of their potential mortgage (using PV function, 10 points, only the PV cell will be graded, no partial credit), and house price (2 points, no partial credit

\begin{tabular}{l|r} \hline Monthly payment & $ \\ \hline Interest rate & 1,000.00 \\ \hline Monthly interest rate & 30 \\ \hline Number of years & 360 \\ \hline Number of months & \\ \hline & \\ \hline Present value of the Mortgage & \\ (PV function) & \\ \hline House price & \\ \hline \end{tabular}