Question 1167447
you can afford monthly payments at the end of each month of 200 dollars.
the loan is for 5 years.
the interest rate is 2%.


you can use a formula to solve this, or you can use a financial calculator.


i prefer the use of a financial calculator.


there is one online that you can use.


it can be found at <a href = "https://arachnoid.com/finance/index.html" target = "_blank">https://arachnoid.com/finance/index.html</a>


here's what the inputs look like:


<img src = "http://theo.x10hosting.com/2020/101701.jpg" >


here's what the output looks like.


<img src = "http://theo.x10hosting.com/2020/101702.jpg" >


your solution is that the amount of the loan you can afford is 11,410.47.