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Question

A mortgage company owns the following 10 mortgages. Investors will purchase packages of mortgages worth at least $1 million. What is the maximum number of such packages that can be created from this set of mortgages?

Mortgage 1 2 3 4 5 6 7 8 9 10

Amount $900 $860 $780 $525 $240 $185 $165 $164 $135 $125 (in $1,000s)

Constraint: Package cannot be more than 4 mortgages.

a. Create a spreadsheet model for this problem, and use Solver’s evolutionary algorithm to solve it.

b. What is the optimal

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