We use an implicit alternating direction numerical procedure to estimate the value of a fixed‐rate mortgage (FRM) with embedded default and prepayment options. The value of FRMs depends on interest rates, the house value, and mortgage maturity. Our numerical results suggest that the joint...

"International Business Finance introduces students to the fundamental workings of business and finance in the global economy. The text brings clarity and focus to the complexities of the field, and demonstrates the key linkages between the foreign exchange markets and world money markets."...