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#15 Hello, I am having problems trying to solve this math question. May you help me better understand it? There are THREE ANSWERS . Please

#15 Hello, I am having problems trying to solve this math question. May you help me better understand it?

There are THREE ANSWERS. Please read below.

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The table shows the specications of an adjustable rate mortgage (ARM). Assume no cape apply. Find a} the initial monthly payment; b) the monthly payment for the second adjustment: and s] the change in monthly payment at the rst adjustment. \"The principal balance at the time of the rst rate adjustment. What is the initial monthly payment? 5K (Round to the nearest cent.) Beginning Balance Term Initial index rate Margin Adjustment period Adjusted index rate I'Adjusted balance $70,000 20 years 6.6% 2.4% 1 year 8.1% $53,689.08

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