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You have an option to buy a $150,000, 9 percent, 30-year, 360-payment mortgage. The price of the mortgage is $140,000. You expect it to be

You have an option to buy a $150,000, 9 percent, 30-year, 360-payment mortgage. The price of the mortgage is $140,000. You expect it to be paid off at the end of year 12. What is your expected yield? (10 points)

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