You are considering buying a house. Your current annual salary is $100,000 and you want the monthly payment to be no more than 25% of your monthly income. You can get 25-year mortgage at 4.2% APR. Insurance and taxes will be $300 per month and must be included when calculating your maximum loan amount. If you can make a down payment of $30,000, what is the maximum amount you can spend on a house?a) $360,894. b) $416,650.
c) $386,560.
d) $330,895.