For promised payoffs between $60,000 and $80,000, solve E(Payoff of Loan if $60,000 Loan Promise

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For promised payoffs between $60,000 and $80,000, solve E(Payoff of Loan if $60,000 ≤ Loan Promise ≤

$80,000) = $20,000 + 80% . $20,000 + 60% . $20,000 + 40% . (Loan − $60,000).

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