A prospective home buyer is considering purchasing a $200,000 house with a 10% down payment and financing the balance over 30 years. He is able to afford monthly payments of $1,450. a. What is the...

A prospective home buyer is considering purchasing a $200,000 house with a 10% down payment and financing the balance over 30 years. He is able to afford monthly payments of $1,450. a. What is the maximum interest rate per annum on the mortgage for which the house is affordable? b. Repeat part (a) for a 15 year mortgage.