Question: #5 and #6 go together. No work needs to be shown 5. What is the maximum amount you can borrow if you can pay $400

#5 and #6 go together. No work needs to be shown

5. What is the maximum amount you can borrow if you can pay $400 monthly for a period of 30 years at a market rate of 6% APR? a. $66,716.65 b.$63, 786.65 C. $56,678.65 d. $78,567.65 6. In the above case what would the principal amount left on the loan after a period of 20 years? a. $23,000.65 b. $34,655.67 C. $36,029.38 d. $ 56, 567.38

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