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Short Answer Questions (Show your complete works) 16. Why open mortgages have substantially higher rates than equivalent closed mortgages? 2 17. In terms of receiving dividends, what is the difference between common stock holders and preferred stock holders 2 18. Suppose the market interest rate rises from 3% to 4% a year after Ford motor company issues bonds. Will the value of the bond increase or decrease? 1 19. If an amount of $10,000 is deposited into a savings account for 5 years compounded quarterly and yielding $11,612, what was the rate of interest? 4 Session 5, example #3 20. A couple purchases a home for $500,000 with a 20-year fixed rate mortgage 2