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A local bank originated a 30 -year mortgage for $450,000 two years ago with a rate of 5% a. What is the current outstanding balance

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A local bank originated a 30 -year mortgage for $450,000 two years ago with a rate of 5% a. What is the current outstanding balance on the mortgage? b. What is the current market value of the mortgage if interest rates are now at 8%? c. Explain the difference between your answers in A and B

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