You are looking for a house to buy. Here are your three options: You would be taking a home loan from a bank to cover the purchase price of a house that you would be able to afford. Every month you can afford to spend \$1,500 on loan payments. Your local bank has approved you for a 20-year loan, at 6% annual interest rate, requiring monthly loan piyments. Given the information above, which of the three houses can you atford to bury? SOLUTIONS: - You would approach this problem by first figuring out the maximum loan amount that you can afford to take from your local bank. You can do this math in one calculation step! For the toan amount, you would be solving for More specifically. it's the type of annuity called In your calculations of the loan amount, you will use: interest rate, for the number of time periods, and amount for the payment. - Your calculated loan amount is For your calculations, increase decimal places for any intermediate calculations, from the default 2 to 6 or higher, and only round your final answer to whole number. - This will allow you to buy - You would approach this problem by first figuring out the maximum loan amount that vou can afford fn take from unur local bank. You can do this math in one calculation step! For the loan amount, you would be solving f. it's the type of annuity called - In your calculations o interest rate, for the number of time periods, and amount for the payment. can do this math in one calculation step! For the loan amount, you would be solving for it's the type of annuity callk J. In your calculations of the loan amount, you will u for the number of time periods, and amount for the payment. - Your calculated loan amount is For your calculations, increase decimal places for can do this math in one calculation step! For the loan amount, you would be solving for it's the type of annuity called In your calculations of the interest rate, for the numbe amount for the payment. For your calculations, increa calculations, from the default 2 to 6 or higher. and onlv round your final answer to whole nu - This will allow you to buy - You would approach this problem by first figuring out the maximum loan amount that you can afford to take f can do this math in one calculation step! For the loan amount, you would be solving for it's the type of annuity called . In your calculations of the loan amount, you will for the number of time periods, and - This will allow you to buy it's the type of annuity called In your calculations of the loan amount, y interest rate, for the number of time peri amount for the payment. is For your calculations, increase decimal pl 2 to 6 or higher, and only round your final answer to whole number. - This will allow you to buy it's the type of annuity called . In your calculations of the loan amount, you will use: interest rate, for the number of time periods, and amount for the payment. - Your calculated loan amouni - For your calculations, increase decimal places for any calculations, from the defau d your final answer to whole number. - This will allow you to buy interest rate, for the number of time periods, and amount for the payment. - Your calculated loan amount is For your calculations, increase decimal places for any calculations, from the default 2 to 6 or higher and anly round your final answer to whole number. - This will allow you to bu