<PRE><B>Question 1120582</B>
Monthly mortgage payment = 514.980676 
 you determined the monthly mortgage payment you can afford.
 Using this value for the regular monthly payment to calculate the present value (P), assuming you receive a 30-year mortgage (loan) with an annual interest rate of 3.625% with monthly compounding.
:
The monthly payment: P{{{((1+(r/n))^(nt)*(r/n))/((1+(r/n))^(nt)-1))}}} = MP 
P{{{((1+(.03625/12))^(30*12)*(.03625/12))/((1+(.03625/12))^(12*30)-1))}}} = 514.98
do the math
P{{{(2.9620*.00302)/1.962}}} = 514.98
.004559P = 514.98
P ~ $112,960
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