The value of a $200,000 fixed-rate, 35-year mortgage falls to $179,074 when interest rates move from 10%

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The value of a $200,000 fixed-rate, 35-year mortgage falls to $179,074 when interest rates move from 10% to 12%. What is the approximate duration of the mortgage?

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Financial Markets And Institutions

ISBN: 9781292215006

9th Global Edition

Authors: Stanley Eakins Frederic Mishkin

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Question Posted: Oct 17, 2023 07:35 AM

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The value of a $200,000 fixed-rate, 35-year mortgage falls to $179,074 when interest rates move from 10%

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Approximate duration of the mortgage 1046300 months This is ...View the full answer

Financial Markets And Institutions

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