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Answer Questions Part A To Part B Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local S&L. The original balance of
Answer Questions Part A To Part B Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local S&L. The original balance of your mortgage was $140,000 and was obtained 5 years ago with monthly payments at a 10 percent interest rate. The loan was to be fully amortized over 30 years. a. (Show All You Works For Your Calculations) What should SMPC pay if it wants an 11 percent Teturn? b.(Show All You Works For Your Calculations) How would your answer to part (a) change if SMPC expected the loan to be repaid after 5 years
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