How large a loan could repay in years

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Point 1: You have rented a ?at but dream of having your own home. You pay a monthly rent of 760 € for the two-room ?at. Would it be worthwhile taking out a loan to buy a home of your own and repay the loan rather than paying a rent? You have EUR 30,000 in savings. You could buy a similar ?at by about EUR 170,000.

Question 1: How large a loan you could repay in 10 years when the annual interest rate on the loan is 5% and you are able to use EUR 700 monthly for loan servicing.

a. 65,996.94€

b. 85,566.22€

c. 110,345.90€

d. l70,156.66€

Reference no: EM132484162

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