The value of a $100,000 fixed-rate 30-year mortgage falls to $89,537 when interest rates move from 5%

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The value of a $100,000 fixed-rate 30-year mortgage falls to $89,537 when interest rates move from 5% to 6%. What is the approximate duration of the mortgage?

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Financial Markets And Institutions

ISBN: 978-0132136839

7th Edition

Authors: Frederic S. Mishkin, Stanley G. Eakins

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Question Posted: Nov 12, 2012 01:15 AM

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The value of a $100,000 fixed-rate 30-year mortgage falls to $89,537 when interest rates move from 5%

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Financial Markets And Institutions

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