James wants to take out a loan. he can afford to make monthly payments of 200 dollars and wants to pay the loan off after exactly 20 years. what is the maximum amount that james can afford to borrow if the bank charges interest at an annual rate of 6 percent, compounded monthly

Knowledge check 01 taylor company has current sales of 1,000 units, at a selling price of $190 per unit, variable costs per unit of $76 and fixed expenses of $96,000. the company believes sales will increase by 300 units, if the company introduces sales commissions as an incentive for the sales staff. the change will decrease the selling price to $175 per unit, increase variable cost per unit to $100 and decrease fixed expenses by $20,000. what is the net operating income after the changes? increase of $21,500 decrease of $30,000 increase of $24,500 decrease of $22,000