Question: 1. How much would your mortgage payment be on a Constant Payment Method basis if the mortgage was $400,000 with a rate of 3.75% and

1. How much would your mortgage payment be on a Constant Payment Method basis if the mortgage was $400,000 with a rate of 3.75% and a 30-year amortization schedule.

2. What size mortgage would you be able to get if the maximum mortgage payment you could make was $2,250 where rates were 4.25% and the amortization period was 30 years. Please show your work.

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