Question: Jake has approached you for a loan and based on your assessment, his cash-flow will accommodate a repayment of $10,800 per month. He has agreed

Jake has approached you for a loan and based on your assessment, his cash-flow will accommodate a repayment of $10,800 per month. He has agreed to a 5-year repayment ferm at an interest rate of 16% add-on. What is the maximum loan that Jake can be given Select one: a $30,000 b. $360,000 c. $160.000 d. $200.000

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