Question 9 Jim and Pam are currently renting and would like to purchase their own home. Jim and Pam like a property which is for sale with a total purchase price of $600,000. Their bank manager has suggested they consider a home loan loan with an interest rates of 5% over a 30 year term. What will be the monthly repayments? Can Jim and Pam afford the 30 year term loan term based on their current circumstances? 1 A B