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An option adjustable rate mortgage (arm) offers flexible payment options , including full payment, interest-only payment, and minimum payment. Based on the following loan information,

An option adjustable rate mortgage (arm) offers flexible payment options , including full payment, interest-only payment, and minimum payment. Based on the following loan information, which of the following is TRUE about tthe payment this month.

  1. The loan term is 30 years
  2. the original loan amount is 250,000
  3. Ending balance of last month is 200,000
  4. mortgage interest rate is 6%
  5. minimum payment interest rate is 1.5% (annual rate)

A. All of the above

B. The minimum payment is $250

C. The interest only payment is $1000

d. the full payment is $1,499

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