Question: Max is thinking about purchasing a house. He wishes his annual payments to be 25% of his salary. The following table lists his expected salary

Max is thinking about purchasing a house. He wishes his annual payments to be 25% of his salary. The following table lists his expected salary over the next 30 years. How much is Max willing to borrow for his house? Assume he can find a loan that matches his desired payments. Assume the interest rate is 7.29%.

Years	Salary
1 -10	$34,799
11-20	$77,333
21-30	$154,838

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