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Assume a $100,000 interest-only ARM with a 30-year maturity and an initial rate of 6 percent. If at the reset date (1st year) the index
Assume a $100,000 interest-only ARM with a 30-year maturity and an initial rate of 6 percent. If at the reset date (1st year) the index has increased and the new interest rate becomes 8 percent, what is the new monthly payment
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