TVM problem- I know the payment is the rent plus the amount saved each month, which is 1,100 dollars. I don't know what to do after that.

You have been renting an apartment for $600 per month while saving $500 per month for a house down payment (you also save 10% of your monthly income for retirement above and beyond this). Based on this information, how much house can you afford if a 30-year mortgage costs 4%? Assume you have accumulated $50,000 for a down payment 7