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HW2-1 (Session 4): You are offered a 30-year mortgage loan with $500,000 principal amount and $2,400 monthly payments toward principal and interest. Compute the corresponding

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HW2-1 (Session 4): You are offered a 30-year mortgage loan with $500,000 principal amount and $2,400 monthly payments toward principal and interest. Compute the corresponding annual interest rate for this loan. Hint: write down the table of cash flows and compute the internal rate of return using a numerical solver

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