Question: You'd like to know how much you can borrow from the bank using a 25 year principal and interest (P&I) home loan. You can afford

You'd like to know how much you can borrow from the bank using a 25 year principal and interest (P&I) home loan. You can afford monthly payments of $3,600. The interest rate is 3.72% pa compounding monthly which is not expected to change. How much can you borrow now? Select one: a. $699,590.04 b. $702,439.32 c. $705,271.02 d. $878,048.78 e. $1,714,285.71

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