Which of the following is true of mortgage-backed securities?
A) Mortgage-backed securities assure a flat 15 return.
B) Mortgage-backed securities are guaranteed by the U.S. government.
C) Mortgage-backed securities can only be purchased by investment banks.
D) Mortgage-backed securities represent claims on the cash flows generated by a pool of homeloans.
Question 2
If the projects have five-year lives, the range of the net present value for Project B is approximately ________. (See Table 11.6)
A) 80,563
B) 201,000
C) 255,444
D) 303,263
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