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A bank has 3 0 year fixed rate mortgage loans with an at issue value of $ 6 0 million. The mortgages were originated with
A bank has year fixed rate mortgage loans with an at issue value of $ million. The mortgages were originated with a coupon and yield rate, but now current mortgage rates are The mortgages are expepcted to all be prepaid in exactly years. What is the duration of the mortgages? please do duration in months
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