14. [-/0.1 Points) DETAILS TANAPMATHS 4.2.027. MY NOTES PRACTICE ANOTHER The Johnsons have accumulated a nest egg of $18,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $1300/month in monthly payments (to take advantage of the tax deduction) toward the purchase of their house. However, because of other financial obligations, their monthly payments should not exceed $1500. If local mortgage rates are 7.5W/year compounded monthly for a conventional 30-yr mortgage, what is the price range of houses they should consider? (Round your answers to the nearest cent.) least expensive $ most expensive $ Need Help? Read Talk to her 15. (-/0.1 Points) DETAILS TANAPMATHS 4.2.030. MY NOTES PRACTICE ANOTHER Lauren plans to deposit $3000 into a bank account at the beginning of next month and $225/month into the same account at the end of that month and at the end of each subsequent month for the next 5 y. If her bank pays interest at a rate of 4%/year compounded monthly, how much will Lauren have in her account at the end of 5 yr? (Assume she makes no withdrawals during the 5-yr period. Round your answer to the nearest cent.) $ Need Help? Tak to a Tutor