After landing your dream engineering job, you want to buy a home. To be financially responsible, your monthly loan and property tax payment should not exceed 32% of your disposable income. You have found a 30-year loan with a 3.5% annual interest rate, compounded monthly. If your estimated property taxes are $400 and your disposable income is $4,600 per month, what is the maximum amount of home loan you should consider?
a) $135,869.45
b) $152,387.33
c) $176,209.78
d) $191,634.96
