Asset life cycles

This idea of provenance leads us very naturally to the concept of an asset life cycle. If we consider the history of an asset, then in some very meaningful sense, an asset is created, changed over time, and eventually ceases to exist. For example, consider a mortgage. It comes into existence when a bank agrees to lend a sum of money to a customer. It remains in existence for the term of the mortgage. As the interest rate changes, it determines the monthly repayment amount according to a fixed or a variable rate of interest. The term of the mortgage may be changed with the agreement of both the bank and the mortgage holder. Finally, at the end of the mortgage, it ceases to exist, although a historic record of it may be kept. ...

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