What would smpc pay if it wanted an 11 percent return

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Reference no: EM131983596

Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local bank.

The original balance was $140,000 and was obtained 5 years ago with monthly payments at a 10% interest rate.

The loan was to be fully amortized over 30 years. What would SMPC pay if it wanted an 11% return?

Reference no: EM131983596

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