You recently purchased a home for $175,000. You were able to pay 20% of the purchase price as a down payment. You borrowed ther amount for thirty years, with monthly payments, and an annual interest rate of 6%. What are your monthly payments? 3, 4. How much can you borrow for a new car if you can budget monthly ents of $345 and the loan terms are monthly payments with an paym annual interest rate if 8.0% for 5 years