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Question 17 (5 points): Texas Thrift Association reports an average asset duration of 6 years and an average liability duration of 4 years. In its
Question 17 (5 points): Texas Thrift Association reports an average asset duration of 6 years and an average liability duration of 4 years. In its latest financial report, the association recorded total assets of $2.3 billion and total liabilities of $1.5 billion. If interest rates began at 5 percent and then suddenly fell to 4.8 percent, what change will occur in the value of Texas's net worth? Do not adjust for the leverage
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