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You are considering the purchase of a new home. You want a fixed-rate fully amortizing loan with a term of 30 years. Your monthly payment

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You are considering the purchase of a new home. You want a fixed-rate fully amortizing loan with a term of 30 years. Your monthly payment cannot be more than $897 and the current interest rate is 8.01%. What is the maximum amount the bank will lend you? Answer should be formatted as a dollar amount rounded to the nearest cent

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