You are considering purchasing a new home with a price of $$156,500$ From the sale of a previous home and your savings, you plan on a down payment of $$30,000.$

$1.$ Use a function to calculate the monthly house payment.

$2.$ Assume you decide that, if you take the $30-$year mortgage, you cannot afford a monthly payment higher than $$550.$ Use Goal Seek to determine how much of a down payment would be necessary to bring the house payment down to $$550.$

$5.$ Assume you decide that, if you take the $15-$year mortgage, you cannot afford a monthly payment higher than $$800.$ Use Goal Seek to determine how low the interest rate must be to bring the house payment down to $$800.$ All the necessary information are presented on the picture below. Calculating an Affordable House Payment