Question: A bank makes a 30 year Fully Amortizing FRM for $2,000,000 at an annual interest rate of 4.125% compounded monthly, with monthly payments.Suppose inflation is

A bank makes a 30 year Fully Amortizing FRM for $2,000,000 at an annual interest rate of 4.125% compounded monthly, with monthly payments.Suppose inflation is 2% per year, compounded monthly. What is the real value of the 20th payment? A. $6,523.11 B. $9,692.99 C. $9,375.48 D. $9,050.06

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