graded for correctness. The rest will be graded for completion.

Home Affordability. The Jeffersons have determined that, after making a down payment, they could afford at most $$2500$ for a monthly house payment. The bank will charge them interest at a rate of $6\mathrm{.}2\%$ per year on the unpaid balance, with interest computations made at the end of each month. If the loan is to be paid off in equal monthly installments over $25$ years, what is the maximum amount that the Jeffersons can borrow from the bank?