The Johnsons have accumulated a nest egg of $60,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $2400 per month in monthly payments (to take advantage of the tax deduction) toward their purchase. However, because of other financial obligations, their monthly payments should not exceed $3000. If local mortgage rates are 5.75% per year compounded monthly for a conventional 30-year mortgage, what is the price range of houses that they should consider?

*Also, can you please show my the steps that led you to that this answer. Thank you!