How to do Amortization?

[Andrew McManamon]

Hello Everyone, I'm trying to figure out this problem for a practice test I'm taking, can anyone help me? "If a borrower can afford to make monthly principal and interest payments of $1000 and the lender will make a 30 year loan at 5.5% ($5.68) , or a 20 year loan at 4.5% (about $6.40), what is the largest loan this buyer can afford?" The answer is: $176,100 But how was that answer reached? Any help would be much appreciated. Andrew