For each of the following problems, (a) draw the cash flow diagram; (b) present clean and clear manual solutions to the problem; (c) highlight the final answer (only the final answer as required by the problem) by enclosing it within a box. How much money should a bank be willing to loan a real estate developer who will repay the loan by selling lakefront lots at $1,000,000 10 years from now? Assume the bank’s interest rate is 10% per year.

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