Question: Given the following information on a fixed-rate fully amortizing loan, determine the maximum amount that the lender will be willing to provide to the borrower.

Given the following information on a fixed-rate fully amortizing loan, determine the maximum amount that the lender will be willing to provide to the borrower.

Loan Term: 30 years

Monthly Payment: $1,090

Interest Rate: 4.875%

A. $205,968

B. $204,549

C. $205,433

D. $203,295

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