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Given the following information on a fixed - rate fully amortizing loan, determine the maximum amount that the lender will be willing to provide to

Given the following information on a fixed

-

rate fully amortizing loan, determine the maximum amount that the lender will be willing to provide to the borrower.

Loan Term:

39

years

Monthly Payment: $

1, 403

Interest Rate:

5 %

compounded monthly

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