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Please use financial calculator. Please also state which is PV, I/Y, PMT, FV, N. Thank you. c. NCP bank extend a $400,000,20-year mortgage at 5%.

Please use financial calculator. Please also state which is PV, I/Y, PMT, FV, N. Thank you. image text in transcribed

c. NCP bank extend a $400,000,20-year mortgage at 5%. The interest rate increases to 6% soon after origination. Suppose the loan is expected to be prepaid in 9 years. What is the loss (interest rate risk) to the bank from the mortgage? ( 2 points)

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