You are about to sign a mortgage contract. You have enough cash to make a 20% down payment. Your monthly payments will be $1,200, for 30 years, starting from one month away from today. If the interest rate is 3% APR, what is the maximum value of the house you can afford?

287,659.18

356,673.53

355,784.07

284,627.26

285,338.83