Housing comparison: current 30 year mortgage rates are at 4.3% and a good rule of thumb is to spend
no more than 28% of your gross income on house payments.
use excel to determine the largest value of a house that could be bought using a 30-year mortgage at
4.3% with payments that are 28% of the gross monthly income for someone with only a high school
diploma and then do the same calculation using your expected salary. also, assume 3.5% interest on a
15 year mortgage, and calculate the largest value of house that could be afforded under this type of
mortgage.