Multiple Choice
Given the following information on a fixed-rate 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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