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Q7 (Principal-Only MBS and Interest-Only MBS) Referring to the previous question, what is the average life of the IO MBS? Submission Guideline: Give your answer

Q7 (Principal-Only MBS and Interest-Only MBS) Referring to the previous question, what is the average life of the IO MBS? Submission Guideline: Give your answer in years rounded to two decimal places. For example, if you compute the answer to be 12.1234 years, submit 12.12.

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