Your take-home pay is $4240 per month and you wish to stay within the recommended guidelines for mortgage amounts by only spending of your take-home pay on a house payment. You have saved $15,000 for a down payment. With your good credit and the down payment you can get an APR from your bank of 3.5% compounded monthly. What is the total cost of a house you could afford with a 15-year mortgage ?

Question 12 options:

$133,276.11

$163,276.11

$148,276.11

$166,428.57

$164,295.77