Question 1173876
an online calculator that helps you to solve this can be found at <a href = "" target = "_blank"></a> 


to find the monthly payment required, provide the following inputs to this calculator.


pv = 450,000
fv = 0
np = 25 years * 12 months per year = 300
ir = 4.25% per year / 12 months per year = .354166667
payment at end


click on pmt to get:
payment at end of each time period = 2,437.82.


total amount of payments would be equal to 300 * 2,437.82 = 731,346.00.


here are the results from the calculator.


<img src = "http://theo.x10hosting.com/2021/012701.jpg" >


to find the maximum mortgage amount they could afford to borrow is they could only pay 2,000, provide the following inputs to this calculator.


fv = 0
np = 25 years * 12 months per year = 300
pmt = -2000
ir = 4.25% per year / 12 months per year = .354166667
payment at end


click on pv to get:
maximum mortgage amount they could afford = 369,181.93.


total payments would be equal to 300 * 2000 = 600,000.


here are the results from the calculator.


<img src = "http://theo.x10hosting.com/2021/012702.jpg" >