Andre Wheeler wants to know what home price he can afford. His annual gross income is $67,200. He has no other debt expenses and expects property taxes and insurance to cost $400 per month. He knows he can get a 6.00 percent, 15-year mortgage so his mortgage payment factor is 8.43. He expects to make a 15 percent down payment. What is Andre's affordable home purchase price? Note: Do not round intermediate calculations and round your final answer to the nearest $100.
A. $181,500
B. $202,100
C. $151,200
D. $223,000
E. $252,400
