QUESTION 1 The median household income for Arkansas is around $46,000. Most budgets recommend spending around 30% of your monthly income (or less) on housing. How much a month should this household plan to spend on housing? QUESTION 2 That calculated monthly expense should include all housing costs (such as insurance, property taxes, etc), let's estimate this means they would have around $950 a month for their mortgage payment and they have poor credit so qualify for a loan with an APR of 5.481%. What size 30 year home mortgage loan could they pay off with a monthly payment of $950? QUESTION 3 Based on that size of loan and the $950 monthly payment, how much would they pay in interest on that 30 year home loan? QUESTION 4 Let's assume instead they have great credit and qualify for a loan with an APR of 4.025%, what size home mortgage loan could they borrow that could be paid off in 30 years with these $950 monthly payments