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2. [-/4 Points] DETAILS Mary wants to take out a loan. She can afford to make monthly payments of 400 dollars and wants to pay

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2. [-/4 Points] DETAILS Mary wants to take out a loan. She can afford to make monthly payments of 400 dollars and wants to pay the loan off after exactly 30 years. What is the maximum amount that Mary can afford to borrow if the bank charges interest at an annual rate of 8 percent, compounded monthly? (Give your answer, in dollars, correct to the nearest dollar.) Need a hint on how to approach this question? amount she can borrow: Submit Answer 3. [-/4 Points] DETAILS

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