1-Angelica wants to take out an Adjustable Rate Mortgage for $710348. She is offered a 30 year, 3/1 ARM with an initial teaser rate of 3.75%. The reset margin on the loan is 300 basis points above 1 year CMT. What will be Angelica's monthly mortgage payments during the first three years with this mortgage? State your answer as a number rounded to two decimal points.

2-You're considering buying an apartment in Astoria, Queens. A similar, but less updated, apartment recently sold for $850,000 and subsequently rented for $2021/month. You think the apartment you are thinking of buying would rent for $2,400. Using the DCF valuation approach, compute the value of the apartment you're considering. State your answer as a number rounded to two decimal points

3Regina gets a monthly 30 year, 7/1 Adjustable Rate Mortgage for $900,000. The initial teaser rate of 2.75%, the interest then resets to 250 basis points above 1 year CMT. Right before the rate resets at the beginning of year 8, Regina's remaining balance is $750,899.10. The 1 year CMT at the time of reset if 3.80%. What will be Regina's new monthly payment in year 8? (e.g. if the answer is $2345.123, write 2345.12)