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Question 1: Calculate the fixed payment on a $100 000 loan with an annual interest rate of 5 percent and 15 years to maturity. Question

Question 1: Calculate the fixed payment on a $100 000 loan with an annual interest rate of 5 percent and 15 years to maturity.

Question 2: Explain the problem of asymmetric information, adverse selection and moral hazard, and why these problems are important for the financial system.

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