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 6.58%.

Years	Salary
1 -10	$37,823
11-20	$97,337
21-30	$185,750

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