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A borrower has secured a 30 year, $200,000 loan at 6% with monthly payments. Fifteen years later, an investor wants to purchase the loan from

A borrower has secured a 30 year, $200,000 loan at 6% with monthly payments. Fifteen years later, an investor wants to purchase the loan from the lender. If market interest rates are 5%, what would the investor be willing to pay for the loan (hint: pv of loan at mkt rate)? [Market Value of Loan Chapter 6]

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