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Assume a 1/1 ARM without cap. Term=15 years. Initial loan balance=$10,000. The starting teaser rate=3%, margin=2%. Year LIBOR 1 6.60% 2 13.50% What is the
Assume a 1/1 ARM without cap. Term=15 years. Initial loan balance=$10,000. The starting teaser rate=3%, margin=2%.
| Year | LIBOR |
| 1 | 6.60% |
| 2 | 13.50% |
What is the total interest payment in Year 2?
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Cases In Healthcare Finance
Authors: Louis Gapenski
5th Edition
1567936113, 978-1567936117
