Question: A bank makes a 30 year Fully Amortizing, Fixed Rate Mortgage (FRM) for $2,000,000 at an annual interest rate of 4.125% compounded monthly, with monthly

A bank makes a 30 year Fully Amortizing, Fixed Rate Mortgage (FRM) for $2,000,000 at an annual interest rate of 4.125% compounded monthly, with monthly payments. What is the market value of this loan after 7 years of payments if the annual interest rate for this loan is 10% compounded monthly?

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