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Showing 1 to 1 of 1 for “"actuarial present value"”.
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Optimal Interest Rate for a Borrower with Estimated Default and Prepayment Risk
… on investment to the lender is assessed using Actuarial Present Value (APV), which incorporates the uncertainty that exists in the mortgage industry today, with many loans defaulting and prepaying. The hazard function, or instantaneous failure rate, is used as a measure of probability of …