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A 30 year, monthly payment ARM has the following characteristics: loan amount = $135,000, index value: 5.00%, margin = 2.50, discount points = 2, teaser

A 30 year, monthly payment ARM has the following characteristics: loan amount = $135,000, index value: 5.00%, margin = 2.50, discount points = 2, teaser rate = 6%. The payment for year one is

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