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Suppose a bank decides to make a mortgage loan to an individual so that she may purchase a home. The homeowner will pay the bank

  1. Suppose a bank decides to make a mortgage loan to an individual so that she may purchase a home. The homeowner will pay the bank $1,500 per month in mortgage payments for the next thirty years. If the bank is charging 5.7% on this mortgage, how much did the bank lend?

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