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Suppose your gross monthly income is $ 5 , 2 0 0 and your current monthly payments are $ 4 2 5 . If the

Suppose your gross monthly income is $ $5, 200$ and your current monthly payments are $ $425 .$ If the bank will allow you to pay up to $36 %$ of gross monthly income $($ less current monthly payments $)$ for a

monthly house payment, what is the maximum loan you can obtain if the rate for a $30 -$ year mortgage is $4.65 % ? ($ Round your answer to the nearest cent. $)$

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