Question: #5 and #7 go together. no work needs to be shown 5. What is the maximum amount you can borrow if you can pay $400

#5 and #7 go together. no work needs to be shown
#5 and #7 go together. no work needs to be shown 5.
What is the maximum amount you can borrow if you can pay

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 7. How much do you pay in the interest in problem number 5, in the first twenty years while making regular monthly payment? a. $40,000.56 b. $34,000.67 C. $30,687.27 d. $45,600.56

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