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2 . A $ 1 0 0 , 0 0 0 mortgage loan at 1 0 . 0 0 % on a 2 5 -
A $ mortgage loan at on a year amortization schedule has been performing well. However, it is now years later and interest rates have risen to The Bank that holds the mortgage loan wants to sell it and they are willing to take a discount. How much is the loan worth if you wanted to purchase it today?
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