Solution-What is the impact on the interest income

What is the impact on the interest income

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A bank issues a $100,000 variable-rate 30-year mortgage with a nominal annual rate of 4.5%. If the required rate drops to 4.0% after the first six months, what is the impact on the interest income for the first 12 months?

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What is the impact on the interest income : A bank issues a $100,000 variable-rate 30-year mortgage with a nominal annual rate of 4.5%. If the required rate drops to 4.0% after the first six months, what is the impact on the interest income for the first 12 months?

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What is the impact on the interest income

Reference no: EM131129140

Reference no: EM131129140

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