Zach and his wife, Jennifer, both work and have a combined gross income of $$85000$ per year. They estimate the property taxes on their condo will be $$1250$ and insurance would be about $$1930$ per year. Zach takes the bus to work, but Jennifer has a car payment of $$200$ per month, and they are both still paying off student loans for a combined total of $$285$ per month. Use this information to answer the questions below.

Express your answers rounded correctly to the nearest cent!

$($i$)$ Determine how much of a monthly mortgage Zach and Jennifer can afford. $($Use the Total Expense Ratio from your class materials.$)$

Payment $=$ $

$($ii$)$ If the couple can get a $20-$year mortgage with a fixed rate of $8\mathrm{.}55\%,$ use Excel's PV function to determine how much house they could afford

Amount to Borrow $=$ $