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Assume a borrower has a $500,000 loan balance. It is estimated that the borrower has a probability of default of 3%. The projected loss-given-default is

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Assume a borrower has a $500,000 loan balance. It is estimated that the borrower has a probability of default of 3%. The projected loss-given-default is 50%. What is the expected loss rate? a. $15,000 O b. 15% O c. 1.5% d. $7,500

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