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Bank of the Atlantic Has Liabilities of $4 Million with an Average

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Bank of the Atlantic has liabilities of $4 million with an average maturity of two years paying interest rates of 4.0 percent annually.It has assets of $5 million with an average maturity of 5 years earning interest rates of 6.0 percent annually.What is the bank's net interest income in dollars in year 3, after it refinances all of its liabilities at a rate of 6.0 percent?


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