PART I: MORTGAGE LENDERS AND MORTGAGE LOANS

i. Lender made a 30-year, self-amortizing, fixed rate mortgage loan to B, the Loan was for $1.5 million, and carried an interest rate of 10%. Five years later, interest rates have dropped so that the B can now obtain a similar loan at 8%. If the B is allowed to prepay the mortgage loan without any prepayment premium, what is the amt of the L ... ................
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