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2. ARM: First year rate = 4.1%; 1% periodic cap; 6% overall cap; 30-yr. amortization; margin = 2%; loan = $74,000; index at end of
2. ARM: First year rate = 4.1%; 1% periodic cap; 6% overall cap; 30-yr. amortization; margin = 2%; loan = $74,000; index at end of year 1 = 4.6%; end of year 2 = 4.0%. Find: PMT in years 1, 2, and 3
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Cost Benefit Analysis
Authors: Harry F. Campbell, Richard P.C. Brown
3rd Edition
1032320753, 9781032320755
