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Suppose you are a mortgage lender. A borrower has promised to pay you $11,746 each year for 20 years. Given you want to earn a

Suppose you are a mortgage lender. A borrower has promised to pay you $11,746 each year for 20 years. Given you want to earn a 10 percent rate of return per year, what is the most you are willing to lend the borrower?

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