1.A borrower has secured a 30year,$1,500,000loanat 5.5%with monthly payments.Fifteen years later an investor wants to purchase the loan from the lender.If market interest rates are 4.5%, what would the investor be willing to pay for the loan?

2A loan was made 10 years ago for $1,400,000 at 8.5%for 30 years, with monthly payments.Rates are currently 6.75%.What is the market value of the loan?

3Which of the following statements concerning a 30 year, $150,000 loan at 7% with monthly payments is true, if 15 years later, an investor wants to purchase the loan and market interest rates are 5%?