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Assume you have an adjustable rate mortgage with interest rates of 6% for year 1, 7% for year 2, 5% for year 3 and 4%

Assume you have an adjustable rate mortgage with interest rates of 6% for year 1, 7% for year 2, 5% for year 3 and 4% for the remaining years of a 10 year mortgage. What is the rate of return if the original mortgage at time 0 is $700,000 and payments are made annually?

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