You have the opportunity to buy a mortgage that pays $2269/month and has 214 months until it

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You have the opportunity to buy a mortgage that pays $2269/month and has 214 months until it is fully repaid.

Assuming that the appropriate yield for an instrument of this risk is 5.9% APR compounded monthly, What is the maximum price you should pay to acquire this mortgage?

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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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Posted Date: Mar 16, 2023 07:18 AM

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You have the opportunity to buy a mortgage that pays $2269/month and has 214 months until it

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Microeconomics

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