One year ago Security Mortgage originated a $95,000, 25-year, fixed-rate mortgage at 7.25 percent interest. Today, the

Fantastic news! We've Found the answer you've been seeking!

Question:

One year ago Security Mortgage originated a $95,000, 25-year, fixed-rate mortgage at 7.25 percent interest. Today, the market interest rate for similar mortgages is 6.75 percent. The loan is expected to have a total life of ten years. What is the market value of this mortgage?