4. (Adjustable-rate CAP) Suppose that the adjustable-rate auto loan of Example 145 is modified by the provision
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4. (Adjustable-rate CAP) Suppose that the adjustable-rate auto loan of Example 145 is modified by the provision of a CAP that guarantees the borrower that the interest rate to be applied will never exceed 11% What is the value of this loan to the bank?
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