You can afford a loan payment of $800 per MONTH on a house. The loan is for 30 years. The rate is 5% annually. How much can you borrow today?

Group of answer choices

149,025.00

261,099.00

177,812.00

212,900.00

You want to buy a car. The salesman refuses to tell you the actual price of the car; he only tells you that the payment is $199.00 per month, the rate is 8% interest, and it is a five year loan. Calculate the price of the car, based on this information.

Group of answer choices

12,240.00

11,777.00

6,522.00

9,814.00