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Bronn takes out an interest - only ( zero amortizing ) , 5 / 1 hybrid, adjustable rate mortgage of $ 2 3 2 ,
Bronn takes out an interestonly zero amortizing hybrid, adjustable rate mortgage of $ with year maturity.
The index is SOFR and the margin is
The SOFT equals at loan origination and it is expected that SOFR at the end of the th year will be pa compounded monthly.
His mortgage payment for the th month equals $
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