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Assume a 3/1 floating rate mortgage for $700,000 has an initial rate of 1.75%. The loan resets with a margin of 200 basis points applied

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Assume a 3/1 floating rate mortgage for $700,000 has an initial rate of 1.75%. The loan resets with a margin of 200 basis points applied to the one-year treasury rate upon reset. At the end of the initial three year period, the one-year Treasury is 1.50%. At the end of four years, the one-year Treasury is 2.00%. 9. What is the payment commencing in month 49 ? 10 . What is the loan balance at the end of 60 months

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