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A bank issues a 100000 fixed-rate 30-year mortgage with a

A bank issues a $100,000 fixed-rate 30-year mortgage with a nominal annual rate of 4.5%. If the required rate drops to 4.0% immediately after the mortgage is issued, what is the impact on the value of the mortgage? Include the dollar amount and percent change

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Finance Basics: A bank issues a 100000 fixed-rate 30-year mortgage with a

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Finance Basics: A bank issues a 100000 fixed-rate 30-year mortgage with a

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