Question: Show all work please You are about to make a $100,000 3-year interest-only mortgage loan @ 4% with annual payments and anticipate a default hazard

Show all work please

You are about to make a $100,000 3-year interest-only mortgage loan @ 4\% with annual payments and anticipate a default hazard of 6%. What percent of original borrowers do you anticipate will make all 3 loan payments? Please indicate your answer as a percent with two digits right of the decimal (i.e., 0.0736 should be indicated by 7.36 )

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