How much would they pay for the mortgage

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Reference no: EM13880890

Secondary Loan Company wants to purchase your mortgage from the local bank. The original loan amount was $200,000 for 30-years at an interest rate of 4%. The loan was made two (2) years ago. If Secondary Loan Company requires a 6% return, how much would they pay for the mortgage?

Please provide information of how you did this using a financial calculator

Reference no: EM13880890

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