Question
Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local bank. The original balance was $140,000 and was obtained 5 years ago
Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local bank. The original balance was $140,000 and was obtained 5 years ago with monthly payments at a 10% interest rate. The loan was to be fully amortized over 30 years. What would SMPC pay if it wanted an 11% return?
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Handbook Of Asset And Liability Management Volume 2
Authors: S. A. Zenios, W. T. Ziemba
1st Edition
0444528024, 978-0444528025
