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The day after a bank makes a 7%, 30-year, $60,000 mortgage loan, interest rates rise to 9%. By what amount has the value of the

The day after a bank makes a 7%, 30-year, $60,000 mortgage loan, interest rates rise to 9%. By what amount has the value of the loan declined (not what the new value is, but how much the value has declined) (ch. 5 slides 3 - 6, ch. 6 slides 4 - 5). Show your answer as a number to the nearest penny (e.g., 4934.56).

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