Secondary mortgage purchasing company smpc wants to buy, Financial Management

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Secondary mortgage purchasing company smpc wants to buy

Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local bank. The original balance was $140,000 and was obtained 5 years ago with monthly payments at a 10% interest rate. The loan was to be fully amortized over 30 years. What would SMPC pay if it wanted an 11% return?

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Financial Management: Secondary mortgage purchasing company smpc wants to buy

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