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You have been pre - approved for a mortgage. The bank has calculated the maximum amount of your loan based on the following information: -

You have been pre-approved for a mortgage. The bank has calculated the maximum amount of your loan based on the following information:- Payments on the loan will be made biweekly (i.e., every two weeks).- The maximum payment you can make is based on your annual salary. Your annual salary is $83200 and the bank assumes a maximum payment of 38% of that salary, paid biweekly.- The bank calculates your interest based on an APR of 9.88%.- The term of the loan is 17 years.What is the maximum loan amount that the bank will pay out and

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