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You have a morgage of $1,800,000 , with TTM of 25years, annual payments. You want...

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Finance

You have a morgage of $1,800,000 , with TTM of 25years, annual payments. You want to have an option to repay this loan at t=1 if interest rate be lower. Lender decide to charge you 5.4% per year. Work out the annual payment Y that you will agree at t=0 to make form t=1 onwards.

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