An investor is considering the purchase of an existing closed mortgage that was written 20 months ago to secure a $45,000 loan at 10% compounded semiannually paying $500 per month for a 4-year term. What price should the investor pay for the mortgage if she requires a semiannually compounded rate of return on investment of
a. 11%?
b. 10%?
c. 9%?

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The Answer of An investor is considering the purchase of an existing closed mortgage that was written 20 months ago to secure a $45,000 loan at 10% compounded semiannually paying $500 per month for a 4-year term. What price should the investor pay for the mortgage if she requires a semiannually compounded rate of return on investment of
a. 11%?
b. 10%?
c. 9%?

An Investor Is Considering the Purchase of an Existing Closed