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Fifteen years ago, a borrower has secured a 30 year $150000 loan at 7% with monthly payments. if market interest rates today are 5% which
Fifteen years ago, a borrower has secured a 30 year $150000 loan at 7% with monthly payments. if market interest rates today are 5% which of the following statements about the loan is true?
a. the market value of the loan is lower than the book value of the loan because the market rate of interest is lower than the interest rate on the loan
b. the market value of the loan is higher than the book value of the loan because the market rate of interest is higher than the interest rate on the loan
c. the market value of the loan is lower than the book value of the loan because the market rate of interest is higher than the interest rate on the loan
d. the market value of the loan is higher than the book value of the loan because the market rate of interest is lower than the interest rate on the loan
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Remote Auditing A Quick And Easy Guide For Management System Auditors
Authors: Denise Robitaille
1st Edition
1932828311, 978-1932828313
