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2. Consider an amortizing mortgage loan having a 5.0% annual stated mortgage rate, monthly payments and a 25- year amortization period. What is the

2. Consider an amortizing mortgage loan having a 5.0% annual stated mortgage rate, monthly payments and a 25- year amortization period. What is the annual mortgage constant (MC)? What happens to the mortgage constant if the amortization period is 15 years?

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