You would like to purchase a home and are interested to find out how much you can borrow. When your lender calculates your debt to income ratio, he determines that your maximum monthly payment can be no more than $3776. You would like to have a 30 year fully-amortizing loan with monthly payments and the interest rate offered on such a loan is currently 4% (annual). Given these constraints, what is the largest loan you can obtain? Round your answer to the nearest cent (e.g. If your answer is $600,000.0134, enter 600000.01 ). QUESTION 2 Ivan fook out a fully amortizing 30 year mortgage with the initial balance of $288743. This mortgage has a fixed annual interest rate at 7%. After Ivan has completed 4 full years of monthly payments, how much have has Ivan paid toward principal? Same question in different words, what is the difference between mortgage balance at orgination and mortgage balance remaining after 4 years of montly payments? Round your answer to the nearest cent (e.9. If your answer is $7000.9873, enter 7000.99 )