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A 1 5 - year fully amortizing loan for $ 2 7 5 , 0 0 0 has a fixed teaser rate of interest of
A year fully amortizing loan for $ has a fixed teaser rate of interest of for years on an interest only basis. It then reverts to a fullyamortizing adjustablerate mortgage for the remainder of the term. What is the outstanding principal when the reset occurs in three years time?
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