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Assume a $400,000 5/1 ARM has an initial coupon of 4.50%. The loan will reset based upon a margin of 200 basis points and the

Assume a $400,000 5/1 ARM has an initial coupon of 4.50%. The loan will reset based upon a margin of 200 basis points and the then one year Treasury in Year 5 of 3.50%. What is the payment starting Year 6? Group of answer choices $2,176 $2,301 $2,239 $2,389

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