Phil can afford $$240$ a month for five years for a car loan. If the interest rate is $10\mathrm{.}5$ percent, how much can he afford to borrow to purchase a car?

Group of answer choices

$$10,266\mathrm{.}67$

$$11,697\mathrm{.}88$

$$12,348\mathrm{.}03$

$$11,165\mathrm{.}96$

$$11,427\mathrm{.}56$