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Say you're looking to purchase a home. The bank suggests a monthly payment of 25% of your gross monthly salary. You feel that you can

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Say you're looking to purchase a home. The bank suggests a monthly payment of 25% of your gross monthly salary. You feel that you can afford a monthly payment of $1,325. After a sudden decrease in interest rates, the current annual rate on a 30 year mortgage is 3.6%. If you have $30,500 as a down payment, how much of a home can you afford? $401,258 0 $429,852 $370,562 O $256,680 O $321,936 O $291,595 O$,218,915

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