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22) a) Compute the monthly payments required on a 30-year bank loan (requiring 360 monthly payments.) The loan amount is $300,000, and the ANNUAL interest

22) a) Compute the monthly payments required on a 30-year bank loan (requiring 360 monthly payments.) The loan amount is $300,000, and the ANNUAL interest rate is 3%. b) Compute the new market value of the above loan if, immediately after the loan is originated, interest rates (on similar loans) increase to 4%.

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