The market has a down year, you get no gain. Your account is $1M, with a $900K loan and $50K accrued interest somewhere on the books. The Net Value is now $50K. Next year is down also, so you get no gain. Account is $1M, $900K loan, and $100K accrued interest on the books. The Net Value is now $0. Zero.What happened to the 900K--did it disappear?
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