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A bank makes a 30-year Fully Amortizing FRM for $1,000,000 at an annual interest rate of 4% compounded monthly, with monthly payments. Suppose inflation is
A bank makes a 30-year Fully Amortizing FRM for $1,000,000 at an annual interest rate of 4% compounded monthly, with monthly payments. Suppose
inflation is 2% per year, compounded monthly. What is the real value of the 20th payment?
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Risk Management And Financial Institutions
Authors: John C. Hull
3rd Edition
1118269039, 9781118269039
