Question: Consider a par-priced 30-year fully amortizing mortgage with a note rate of 4%. Amortize the mortgage assuming that the borrower does not curtail the loan,

Consider a par-priced 30-year fully amortizing mortgage with a note rate of 4%.

Amortize the mortgage assuming that the borrower does not curtail the loan, nor defaults, and pays off the entire balance at the end of year 15.

Use the cash flows to the lender to compute the duration and convexity of this note.

**Please show in excel with formulas**

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