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9. Danille borrows $400,000 from Storrs Mortgage Company on April 1, 2018. Under the terms of her mortgage, Danielle will repay the loan in monthly

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9. Danille borrows $400,000 from Storrs Mortgage Company on April 1, 2018. Under the terms of her mortgage, Danielle will repay the loan in monthly installments over 30 years at a 4.20% nominal annual interest rate convertible monthly. Her first payment is due on May 1, 2018. Immediately after Danielle makes her 36 payment, Storrs Mortgage Company sells her mortgage to National Mortgage Corp. at a price that will yield National Mortgage Corp. a 4.80% nominal annual interest rate convertible monthly Determine the annual effective yield that Storrs Mortgage Corp. earned over the period for which it owned the loan

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