Question: A bank makes a 30 year Fully Amortizing FRM for $800,000 at an annual interest rate of 4% compounded monthly, with monthly payments. What is

A bank makes a 30 year Fully Amortizing FRM for $800,000 at an annual interest rate of 4% compounded monthly, with monthly payments. What is the absolute difference between the balance and the market value of the loan after 36 monthly payments if the interest rate rises to 5%?

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