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38)How much interest would be paid on a five-year adjustable mortgage that is interest only.The principal amount is 300,000.The teaser rate is 1.5 percent.The index

38)How much interest would be paid on a five-year adjustable mortgage that is interest only.The principal amount is 300,000.The teaser rate is 1.5 percent.The index for the rate adjustments are as follows:3%,4.5%, 6%,8%.The margin is 3%.The annual cap is 2% and the maximum lifetime cap is 8%.

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