Use the following to answer questions 13-14. You have decided to purchase your first house. You do not want to pay mortgage insurance so you will be putting 20% down. The house costs $350,000. The bank is offering a 30-year mortgage with an interest rate of 3.25% per year. What will your monthly payments be? (Round to the nearest whole dollar). $1,218.58 $1,523.22 $1,629.85 $18,438.60 After working on your budget, you decide that you cannot afford a payment of more than $1,000 per month. You have $70,000 saved for the down payment. How much can you spend on a house? *Don't forget about your down payment when determining the maximum sales price! $229,776 $250,000 $299,776 $302,776