A bank makes a loan with the following characteristics: monthly payments for 10 years, with an APR of 6%. The amount loaned is $200,000. What is the duration of the loan? What is the expected change in loan value if the interest rate decreases by 1 percentage point immediately after approving the loan. Choose the closest answer below.

A bank makes a loan with the following characteristics: monthly payments for 10 years, with an APR of 6%. The amount loaned is $200,000. What is the duration of the loan? What is the expected change in loan value if the interest rate decreases by 1 percentage point immediately after approving the loan. Choose the closest answer below. O 5.32 years: -$10,037 O 3.21 years: $6,056 0 4.55 years:-$8.577 0 6.74 years: $12.716 A bank makes a loan with the following characteristics: monthly payments for 10 years, with an APR of 6%. The amount loaned is $200,000. What is the duration of the loan? What is the expected change in loan value if the interest rate decreases by 1 percentage point immediately after approving the loan. Choose the closest answer below. O 5.32 years: -$10,037 O 3.21 years: $6,056 0 4.55 years:-$8.577 0 6.74 years: $12.716