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Business, 12.03.2021 15:40 sugar1014

A bank makes a 30 year Fully Amortizing FRM for $2,000,000 at an annual interest rate of 4.75% compounded monthly, with monthly payments. What is the difference between the balance and the market value of the loan after 36 monthly payments if the interest rate rises to 5%? (Give the absolute value of the difference, so the answer should be a positive number.)

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A bank makes a 30 year Fully Amortizing FRM for $2,000,000 at an annual interest rate of 4.75% compo...
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