2. A hank issues a $100,000 fixed-rare 3D-year mort- gage with a nominal annual rate of 4,596....
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2. A hank issues a $100,000 fixed-rare 3D-year mort-
gage with a nominal annual rate of 4,596. If the required rate drops to 4.0%, immediately after the mortgage is issued. what is the impact on the value Of the mortgage?
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Related Book For
Financial Markets and Institutions
ISBN: 978-0321280299
5th edition
Authors: Frederic S. Mishkin, Stanley G. Eakins
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