Question 1139125
a financial calculator will help to solve this problem.


one such calculator can be found at <a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a>


using this calculator, i have determined that the maximum loan that she can afford with
a maximum payment of 3500 at the end of each month would be equal to 161,002.48.


apparently, R means indian rupee and there are currently 69.4 indian rupees to the dollar.


consequently, 161,002.48 indian rupees are equivalent to 2319.92 us dollars.


here's a display of the results i got using the referenced calculator.


<img src = "http://theo.x10hosting.com/2019/041502.jpg" alt="$$$" >


my inputs to the calculator were:


present value = 0
future value = 0
number of time periods = 4 years * 12 months per year = 48 months
payment per month = 3500, shown as negative because it's money going out.
percent interest rate per year = 2.1% / 12 = .175% per month.
payments are made at the end of each month.


i then clicked on pv and the calculator told me that the present value of the loan is equal to 161,002.48, shown as positive because it's money coming in.