Consider a $300,000, 4.50% fixed-rate mortgage, which requires the borrower to make annual payments. If the...

Consider a $300,000, 4.50% fixed-rate mortgage, which requires the
borrower to make annual payments. If the security currently has 23 years remaining until maturity, and is selling to offer a yield-to-maturity of 6%, what is this mortgage’s modified duration

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jeff jeffy answered 1 year ago

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