Shana and Robert plan to buy a new house but don't know how much they can borrow. The total installment loan payments cannot exceed 32% of gross monthly income. Based on April and Bill's financial information below, what is the maximum monthly mortgage payment for which they can afford? Monthly Gross Income $4,000 Car payment 300 Student loan payment 280 Current rent payment 600 a. $ 600 b. $ 900 c. $1,180 d. $ 700 e. $1,280