The Piedmont Investment Corporation has identified four small apartment buildings in which it would like to invest. The four banks generally used by Piedmont have provided quotes on the interest rates they would charge to finance each purchase. The banks have also advised Piedmont of the maximum amount of money they are willing to lend at this time. Piedmont would like to purchase as many buildings as possible while paying the lowest possible amount in total interest. More than one bank can be used to finance the same property. What should Piedmont do?

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PROPERTYMER E2T RATE SAVINGS AND LOAN ffIL COMPANY MAX CREDIT fi BANKS PARK DRURY ST ST AVE. LANE 11% First Homestead Common wealth Washington Federal Loan required $60,000 $40,000 $130,000 $70,000 9% 9% 12% 10% $100,000 9% 11% 10% 9% $120,000