Multiple Choice
Given the following information on a fixed-rate fully amortizing loan, determine the maximum amount that the lender will be willing to provide to the borrower. Loan Term: 30 years, Monthly Payment: $800, Interest Rate: 6%.
A) $6,707
B) $9,295.15
C) $13,333
D) $133,433
Correct Answer:
Verified
Correct Answer:
Verified
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