Question $5(2$ points$)$

The Smiths want to buy a condo in Surrey. Banks use the rule that no more than $32\%$ of gross income can go towards paying the mortgage, property taxes, heating costs and HALF of the condo fees. Their gross income is $$10,000$ per month, property taxes $$1800$ per year, heating costs $$50$ per month and condo fees $$400$ per month.

What is the maximum monthly mortgage payment they could afford?

$$3,000$

$$3,600$

$$2,800$

$$3,800$