=+c. Hector Homeowner has a mortgage with a fixed nominal 6% interest rate that he took out

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=+c. Hector Homeowner has a mortgage with a fixed nominal 6% interest rate that he took out five years ago. Over the years, the inflation rate has crept up unexpectedly to its present level of 7%.

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Economics

ISBN: 9781319066604

5th Edition

Authors: Robin Krugman, Paul Wells

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