Max is thinking about purchasing a house. He wishes his annual payments to be 25% of his salary. The following table lists his expected salary over the next 30 years. How much is Max willing to borrow for his house? Assume he can find a loan that matches his desired payments. Assume the interest rate is 9.71%.
Years: Salary
1 -10: $32,433
11-20: $84,695
21-30: $148,720