The following table shows annual rates for various types of loans in $2021.$ Assume monthly payments and compounding periods. HINT $[$See Examples $5$ and

$7.]$

You were considering buying a home with a $30-$year mortgage in $2021$ and could afford to make a down payment of $$40,000$ and up to $$500$ per month on

mortgage payments. How much could you have afforded to pay for the home? $($Round your answer to the nearest cent.$)$

$