A bank issues a 100000 variable-rate 30-year mortgage with
A bank issues a $100,000 variable-rate 30-year mortgage with a nominal annual rate of 4.5%. If the required rate drops to 4.0% after the first six months, what is the impact on the interest income for the first 12 months?
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a bank issues a 100000 variable-rate 30-year mortgage with a nominal annual rate of 45 if the required rate drops to 40
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