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Question 2 Youre considering purchasing a house. Youve estimated that the maximum monthly payment you can afford is $3,500. Your local bank is currently charging

Question 2 Youre considering purchasing a house. Youve estimated that the maximum monthly payment you can afford is $3,500. Your local bank is currently charging 0.4% monthly interest for a 30-year (360 month) mortgage. What is the most you can borrow? (Hint: Use solver/goalseek to find the mortgage amount that makes the final ending balance equal to zero).

Mortgage Amount (using solver)
Monthly Payment $3,500.00
Month Beginning Balance Payment Ending Balance
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