please answer in formulas and round decimals to two decimal places for interest rates and dollar amounts in final answers. please answer in text that can be copied not in a picture format or excel.

9. Isaiah Irrizary has his heart set on a hotel in Iceland that he wishes to purchase for $6,600,000. The bank in Iceland is willing to lend him 80% of the purchase price of the property at an APR of 6.16% with monthly compounding and he is required to make monthly payments for 25 years. Isaiah's accountant says that he can afford monthly payments of $32,500 but no higher. Is Isaiah able to buy the hotel