Write an algebraic equation and use it to solve the problem.A loan officer at a bank has $98,000 to lend and is required to obtain an average return of 
per year. If he can lend at the rate of 
or the rate of 
how much can he lend at the 
rate and still meet his required return?
A.
| $5764.71? |
B. $3266.67
C. $808,500.00
D. $24,500.00
Answer: D
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