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A mortgage broker is offering a 3 0 - year $ 1 7 5 , 9 0 0 mortgage with a teaser rate. In the

A mortgage broker is offering a 30-year $175,900 mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 3.2 percent APR interest rate. After the second year, the mortgage interest rate charged increases to 6.2 percent APR. What are the monthly payments after the second year?

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