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A 3 0 - year fully amortizing mortgage loan was made 1 0 years ago for $ 9 2 , 0 0 0 at 6
A year fully amortizing mortgage loan was made years ago for $ at percent interest. The borrower would like to prepay the mortgage balance by $
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a Assuming he can reduce his monthly mortgage payments, what is the new mortgage payment?
b Assuming the loan maturity is shortened and using the original monthly payments, what is the new loan maturity?
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Handbook Of The Economics Of Finance Volume 2A
Authors: George M. Constantinides, Milton Harris, Rene M. Stulz
1st Edition
0444535942, 978-0444535948
