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You are able to purchase a mortgage note from a bank for $525,000 that gives you the right to receive $110,700 in each of the

You are able to purchase a mortgage note from a bank for $525,000 that gives you the right to receive $110,700 in each of the next 8 years. What is the yield on this investment?

a. 4.18% b. 14.10% c. %13.35 d. 10.83%

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